Name the person and their role
Tell us who the business depends on, their ownership share and what they do. Your Spot team asks what would be hard to replace.
Orbit SoftwareOrganized by Spot
Key Person Insurance Quotes
Get key person insurance quotes with Spot
Tell your Spot team who the business can’t do without and why, and we prepare the submission brokers use to request key person quotes.
Get quotes from key person insurance providers
- Each person’s role and importance described
- The amount you ask for explained to underwriters
- Keep your broker or switch, with no commissions on premiums
How it works
Explain the amount you need
We help you set out revenue contribution, replacement costs and downtime, so the requested amount has a reason behind it.
Key person insurance
Orbit Software · Policy review
- Policy wording
- Coverage limits
- Compare with
- Contract requirements
Confirm with your broker
Limits, exclusions, and endorsements
Brokers take it to market
We work with brokers to request proposals, and follow up on what insurers need for individual underwriting.
# spot-support
TaylorOrbit Software
What do we need to request key person insurance quotes?
RileySpot
Let’s prepare the information for your broker and compare the terms, not just the price.
Compare period and benefits
See each proposal’s coverage period, premium commitment, renewal options and whether disability is quoted separately.
Insurance documents
Quote requestKey person insurance
Coverage limits · Policy terms
Orbit Software
What you’ll need
- 01
The person’s role and ownership
Their position, any ownership share and compensation, showing why they matter to the business.
- 02
Business financials
Information that supports the amount you’re requesting.
- 03
How you chose the amount
Revenue the person contributes, the cost to replace them and downtime while you do.
- 04
Existing coverage
Life or disability coverage already in place on this person.
- 05
Application answers
Health and lifestyle information the insured person will be asked for, and which has to be accurate.
- 06
How long you need protection
The period the business expects to depend on this person, to match against a term.
- 07
Death, disability or both
Whether you also want disability or overhead-expense protection quoted separately.
What affects your price
- 01
The insured person
Age, health and lifestyle answers are part of individual underwriting.
- 02
Amount of coverage
A larger benefit costs more.
- 03
Length of the term
A longer coverage period changes the premium commitment.
- 04
Death versus disability
Adding disability or overhead-expense protection is priced separately from life coverage.
- 05
Renewal and guaranteed values
Options and guarantees in the policy affect what you pay over time.
Providers your broker can approach
Get quotes from key person insurance providers.
- Alliance Risk
- Embroker
- Founder Shield
- HUB International
- Lockton
- RiskCube
- The Baldwin Group
- And many more
Common questions
Does key person insurance fund a buyout?
Not by design. Funding a purchase of an owner’s interest is a separate objective, and we keep it distinct from key person continuity proceeds.
What if the person becomes unable to work?
Death and disability are different events. Disability coverage is a separate option we can quote if that’s your concern.
Why does the insurer ask health questions?
Key person coverage is individually underwritten, so the application asks the insured person for health and lifestyle information. Answer accurately and ask what must happen before coverage takes effect.
Who submits the application to the insurer?
A broker does. Spot works with yours or helps you find one, and takes no commissions on premiums.
Related
Get insurance off your to-do list.
Tell your Spot team who the business can’t do without and why, and we prepare the submission brokers use to request key person quotes.
Get StartedLearn more before you get quotes
Read these before you choose a policy or an insurer.
