Embroker Key Person Insurance

Embroker targets businesses whose financial success, reputation, or ability to secure a loan or investment is tied to one or two specific people, not necessarily the CEO or owner. ¹Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business or individual.

Embroker says the policy covers costs of finding, training and hiring a replacement, loss of profits or debts resulting from the key person's death, and can be applied toward protecting shareholdings or partnership interests. ¹Company-reported. Product-page What's covered section; the issued policy and declarations control.

Embroker says claims filed within the first two years may be investigated to verify the application was truthful, and that suicide during that two-year period is not covered. ¹Company-reported. Product-page What's not included section.

Embroker offers both key person life insurance (term or permanent) and key person disability insurance, which compensates the company if the key person becomes temporarily or permanently unable to perform their duties. ¹Company-reported. Product-page 'Is Key Person insurance just life insurance?' section.

Embroker says key person insurance premiums are not tax-deductible business expenses, though the death-benefit payout is generally not subject to income tax if the employee notification and consent requirements were met. ¹Company-reported. Product-page 'Is Key Person insurance tax-deductible?' section; general tax description, not individualized tax advice.

Embroker requires a short application, basic health questions answered with a dedicated concierge, and a medical exam if applicable, before the policy can be issued; the company is legally required to notify the insured employee and get their consent. ¹Company-reported. Product-page 'Get started' and 'Do I need to supply medical records?' sections; no application was submitted during this research.