What Is A Keyman Life Insurance Policy? 
A Key Man Life Insurance policy is life insurance that covers the life of key persons in a business . These are employees who represent the top producers and/or leadership in the company , and who would take some time to replace . Key Person insurance provides money to keep the business in the black while this new key employee is found . Key Man Life Insurance can be Term or Permanent , and it can be owned by the business or by the employer . 