Many small businesses depend on specific individuals for their company's continuing success. Key Man insurance enables you to protect your business against the cost of loss or disability of key members of your staff or management team by purchasing Life insurance and/or Disability insurance.

You should consider Key Man insurance if the success of your company and ongoing operations depend on the abilities of one or more individuals. Bishop Insurance can assist you by recommending a Key Man insurance policy tailored to meet the specific needs of your company.††

	Highlights Below > Available Coverages & Benefits for Your Business > Fast Facts > Additional Benefits

Available Coverages & Benefits for Your Business1

• Cash payments to the ownership or surviving partners enabling the business to keep operating until new talent is located
• Securing repayment of a critical loan by naming certain creditors and/or investors as a beneficiary
• Cover lost sales revenue while the key person recovers from illness or accident; or in the case of death, until a new employee can be hired and trained
• Key Man insurance can often insure a critical job or project until completed by providing financial payment

	Fast Facts
	Who needs Key Man Insurance?2 Small businesses including: partnerships and sole-ownerships
	Who Should Be Covered by Key Man Insurance?2 Individuals within your company who are vital to the company's short-term and long-term success
	Other Facts It is more likely that a key employee becomes disabled rather than passing away Tax benefits may apply

1. Specific benefits depend on the policy you select. For complete details, contact Bishop Insurance.
2. Certain restrictions, limitations, exclusions may apply. For complete details, contact Bishop Insurance.

• Inflation protection is available
• Disability is available
• Investors and creditors can be named as beneficiaries