What Is Key Person Life Insurance? 
That is a great question ! If you are an invaluable part of your companies success , I 'd not be surprised to hear that they have a key person policy on you ! This type of policy is purchased by an employer , or business partner when the loss of that employee would have a great impact on the financial stability of the company . For example , let 's say that you are a mechanic that specializes in repairing imported sportscars , you are really good at it and have developed quite a lot of clients that come to you , and your company relies heavily on that income you generate . They may take out a policy for the event that you pass , and the business suffers financially from the loss of your clientele until they find a replacement for you . The company is the owner , the beneficiary , and pays the premiums in this type of policy . I hope that helps , thanks for asking ! 