My Company Would Suffer A Heavy Financial Loss If Our Chief Financial Officer Became Disabled And Could Not Work. Our Agent Suggested Buying “Key Person Disability” Insurance. Who Covers What And How Much Is Enough?
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UPDATED: Sep 15, 2020
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If a key person is out of action because of disability and the company has that person insured with a “key person disability” insurance policy, the company will get the disability income checks. These can be used to cover the financial loss or to help pay for someone to do the work of the CFO until the disability ends.