--- title: "Key Person Insurance in Florida" description: "Learn how Florida insurable-interest rules, employee consent, and life guaranty limits affect a business-owned key person policy." canonical: "https://spot.insure/coverage/key-person/florida" page-type: "coverage-state-guide" updated-at: "2026-09-28" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/coverage/key-person/florida) # Key Person Insurance in Florida For a life insurer failure, the published guaranty limit for a policy covering a life in Florida is $300,000 in death benefits. Ask the broker which insurer will issue the policy and compare its financial strength separately from this limited state safety net. Florida gives a business entity an insurable interest in a key person only if the person gives written consent before purchase; the employer may not retaliate for a refusal. Ask for a signed consent dated before policy purchase and keep it with the policy file. Compare your ownership and insured’s role with Fla. Stat. § 627.404(5)(9).[^4][^1] **Coverage:** [Key person](/coverage/key-person) · [Florida](/coverage/states/florida) ## What Is Key Person? Key person insurance pays the business, not the person’s family, when a founder, partner or employee it relies on dies. Disability, overhead expense and buyout funding are separate products to discuss on their own. [Read the national Key person guide](/coverage/key-person). ## What to Watch for in Florida ### Document the Business Interest Florida gives a business entity an insurable interest in a key person only if the person gives written consent before purchase; the employer may not retaliate for a refusal. Ask for a signed consent dated before policy purchase and keep it with the policy file.[^1] ### Complete Written Notice and Consent Florida’s statute specifically includes a business’s owners, directors, officers, partners, managers, and key employees. Have the carrier record the insured’s qualifying role and the business reason for the face amount.[^2][^3] ### Check the State Guaranty Backstop The published Florida life-association limit is $300,000 per insured life. For a multi-person program, compare the per-life amount with the separate owner aggregate reported in NOLHGA’s model. Include it when assessing exposure to one insurer failure. For issuance, also check Fla. Stat. § 627.404(5)(9).[^4][^5][^1] ## Who Regulates Insurance in Florida **Florida Office of Insurance Regulation.** The Florida Office of Insurance Regulation licenses and regulates insurance companies and reviews rates and forms. The Department of Financial Services separately licenses insurance agents and handles consumer insurance complaints; its resource page links to both state license searches.[^6][^7][^8] - [Regulator website](https://floir.gov/) - [License lookup](https://myfloridacfo.com/division/ica/resources) - [File a complaint](https://myfloridacfo.com/division/consumers/needourhelp) - Phone: 1-877-693-5236 ### Surplus-Lines Tax and Stamping Office **Reported tax rate:** 4.94% of gross premium plus a 0.03% FSLSO service fee for policies effective July 1, 2026 or later When Florida is the insured’s home state, Florida taxes the entire gross premium at 4.94%; the premium definition includes policy and similar insurance charges. The separate FSLSO service fee is 0.03% for policies effective July 1, 2026 or later. Surplus-lines policies do not receive Florida Insurance Guaranty Association protection.[^9][^10][^11] [Florida Surplus Lines Service Office](https://www.fslso.com/) ## Providers With Documented State Licenses These providers publish a national listing for Key person; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm that the product is available in Florida; [check the regulator’s license lookup](https://myfloridacfo.com/division/ica/resources) and confirm state availability for your business when requesting a quote. - [Vouch](/insurance-providers/vouch) — **Entity:** Vouch Specialty Insurance Services, LLC; **role:** Insurance producer, Surplus-lines broker; **checked:** 2026-09-28. **Scope:** Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability.[^18] ## Questions to Ask Before You Buy in Florida 1. What Florida law supports our business’s insurable interest in this person, and what should we retain to prove the role? 2. What written notice and consent must the insured receive before this policy is issued, and can coverage continue after employment ends? 3. How would Florida’s guaranty-association limit apply to this policy and our other business-owned life policies? ## Key Person in Florida: FAQ ### How much of a key person life policy is protected if an insurer fails in Florida? The listed Florida cap for life death benefits is $300,000. That is an insolvency backstop, not the face amount you can insure. NOLHGA reports an aggregate $5 million limit for one owner’s multiple nongroup life policies.[^4][^5] ### Does my business need an employee’s consent for key person insurance in Florida? Yes. Federal rules require written notice and consent before issue for the employer-owned life tax exception. Florida’s statute specifically includes a business’s owners, directors, officers, partners, managers, and key employees. Have the carrier record the insured’s qualifying role and the business reason for the face amount. Confirm the stated maximum face amount matches the application. For state-law details, check Fla. Stat. § 627.404(5)(9).[^2][^3][^1] ## Key Person in Other States - [Alabama](/coverage/key-person/alabama) - [Alaska](/coverage/key-person/alaska) - [Arizona](/coverage/key-person/arizona) - [Arkansas](/coverage/key-person/arkansas) - [California](/coverage/key-person/california) - [Colorado](/coverage/key-person/colorado) - [Connecticut](/coverage/key-person/connecticut) - [Delaware](/coverage/key-person/delaware) - [District of Columbia](/coverage/key-person/district-of-columbia) - [Georgia](/coverage/key-person/georgia) - [Hawaii](/coverage/key-person/hawaii) - [Idaho](/coverage/key-person/idaho) - [Illinois](/coverage/key-person/illinois) - [Indiana](/coverage/key-person/indiana) - [Iowa](/coverage/key-person/iowa) - [Kansas](/coverage/key-person/kansas) - [Kentucky](/coverage/key-person/kentucky) - [Louisiana](/coverage/key-person/louisiana) - [Maine](/coverage/key-person/maine) - [Maryland](/coverage/key-person/maryland) - [Massachusetts](/coverage/key-person/massachusetts) - [Michigan](/coverage/key-person/michigan) - [Minnesota](/coverage/key-person/minnesota) - [Mississippi](/coverage/key-person/mississippi) - [Missouri](/coverage/key-person/missouri) - [Montana](/coverage/key-person/montana) - [Nebraska](/coverage/key-person/nebraska) - [Nevada](/coverage/key-person/nevada) - [New Hampshire](/coverage/key-person/new-hampshire) - [New Jersey](/coverage/key-person/new-jersey) - [New Mexico](/coverage/key-person/new-mexico) - [New York](/coverage/key-person/new-york) - [North Carolina](/coverage/key-person/north-carolina) - [North Dakota](/coverage/key-person/north-dakota) - [Ohio](/coverage/key-person/ohio) - [Oklahoma](/coverage/key-person/oklahoma) - [Oregon](/coverage/key-person/oregon) - [Pennsylvania](/coverage/key-person/pennsylvania) - [Rhode Island](/coverage/key-person/rhode-island) - [South Carolina](/coverage/key-person/south-carolina) - [South Dakota](/coverage/key-person/south-dakota) - [Tennessee](/coverage/key-person/tennessee) - [Texas](/coverage/key-person/texas) - [Utah](/coverage/key-person/utah) - [Vermont](/coverage/key-person/vermont) - [Virginia](/coverage/key-person/virginia) - [Washington](/coverage/key-person/washington) - [West Virginia](/coverage/key-person/west-virginia) - [Wisconsin](/coverage/key-person/wisconsin) - [Wyoming](/coverage/key-person/wyoming) [Other Coverage in Florida](/coverage/states/florida) ## Sources [^1]: [2024 Florida Statutes § 627.404 — Insurable Interest; Personal Insurance](https://law.justia.com/codes/florida/2024/title-xxxvii/chapter-627/part-ii/section-627-404/) — State statute (Justia U.S. Codes and Statutes); Fla. Stat. § 627.404(5)(9). Accessed 2026-09-28. [^2]: [26 U.S.C. § 101(j) — Certain employer-owned life insurance contracts](https://uscode.house.gov/view.xhtml?req=(title:26%20section:101%20edition:prelim)) — Office of the Law Revision Counsel, U.S. House of Representatives; 26 U.S.C. § 101(j)(2), (4). Accessed 2026-09-28. [^3]: [Internal Revenue Bulletin 2009-24 — Employer-Owned Life Insurance Contracts](https://www.irs.gov/irb/2009-24_IRB) — Internal Revenue Service; Notice 2009-48, Q&A 6–7; written notice and consent. Accessed 2026-09-28. [^4]: [How You’re Protected: Coverage Levels by State](https://nolhga.com/policyholders/how-youre-protected-2/) — National Organization of Life & Health Insurance Guaranty Associations; Coverage Levels by State; life insurance death benefits; report current as of May 2025. Accessed 2026-09-28. [^5]: [Life and Health Insurance Guaranty Association Model Act](https://content.naic.org/sites/default/files/publication-model-2025-fall.pdf) — National Association of Insurance Commissioners; Section 8(A)(2)(d), owner aggregate benefit cap. Accessed 2026-09-28. [^6]: [Florida Office of Insurance Regulation](https://floir.gov/) — Florida Office of Insurance Regulation; Official regulator homepage; insurer regulation. Accessed 2026-09-28. [^7]: [Resources](https://myfloridacfo.com/division/ica/resources) — Florida Office of the Insurance Consumer Advocate; State page links to DFS agent search and OIR active company search. Accessed 2026-09-28. [^8]: [Get Insurance Help](https://myfloridacfo.com/division/consumers/needourhelp) — Florida Department of Financial Services; Insurance concern and formal complaint intake; consumer helpline. Accessed 2026-09-28. [^9]: [Florida Statutes § 626.932: Surplus lines tax](https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0626/Sections/0626.932.html) — Florida Legislature; 4.94% tax on gross premium; home-state taxation; statutory definition of premium. Accessed 2026-09-28. [^10]: [FSLSO Bulletin 2026-02](https://www.fslso.com/docs/default-source/bulletins/fslso-bulletin-2026-02.pdf?sfvrsn=186161a3_1) — Florida Surplus Lines Service Office; Service-fee rate effective July 1, 2026: 0.03%. Accessed 2026-09-28. [^11]: [Surplus Lines Search](https://www.floir.gov/resources-and-reports/surplus-lines-search) — Florida Office of Insurance Regulation; Consumer guidance for nonadmitted insurers, including absence of FIGA protection. Accessed 2026-09-28. [^12]: [Licenses](https://www.at-bay.com/licenses/) — At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21. [^13]: [Licenses and Carriers](https://www.coalitioninc.com/legal/licenses) — Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535.. Accessed 2026-09-22. [^14]: [Insurance Producer Licenses](https://www.corgi.insure/broker-licenses) — Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown.. Accessed 2026-09-28. [^15]: [About Hiscox US Insurance](https://www.hiscox.com/about-hiscox-insurance) — Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16. [^16]: [Licenses](https://www.nextinsurance.com/insurance-licenses/) — ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885.. Accessed 2026-09-28. [^17]: [Insurance Licenses by State](https://www.techinsurance.com/legal/licenses) — TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number.. Accessed 2026-09-28. [^18]: [Licenses](https://www.vouch.us/legal/licenses) — Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict.. Accessed 2026-09-15. Updated 2026-09-28. This guide is informational and does not determine whether a policy is available or meets your needs. [Editorial policy](/editorial-policy). 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