It depends on the type of policy. Term life insurance covers a set period, which suits a need that will end. Permanent life insurance, such as universal life, can last for the key person’s lifetime, for a longer-term need. Coverage can be set for as long as the business needs it.
How long does key person life insurance provide coverage?
Reviewed by Garrett Agencies Ltd., October 2026. How we write
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More about key person insurance
Protects the business if it loses someone whose skills, contacts or sales it depends on.
More questions about key person insurance
- Who qualifies as a “key person” in a business for key person insurance?
- What business risks does key person insurance help address?
- How long does key person disability insurance provide coverage?
- How is “total disability” defined in key person disability insurance?
- How does key person disability insurance work?
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