Types of Key Life Insurance

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Key life insurance is a very specific type of life insurance. Learn about types of key life insurance with help from a member of the California Department of Insurance Curriculum Board and insurance professional in this free video clip.

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Video Transcript

Hi, I'm Tony Steuer, The Life Insurance Sage, and this is my tip on key life insurance. Key life insurance is a very specific type of life insurance. It's used to replace somebody who is key to, usually to a company where the amount of income that they bring in or other value that they represent to the company needs to be replaced. For example, to a company like Apple, the loss of Steve Jobs will probably have a dramatic impact on their products. So a company like Apple may choose to insure Steve Jobs as he plays a very key and vital role to the company. Key life insurance can be in many different forms of life insurance or types of life insurance but it comes down to again the same basic needs, how much insurance and determine how much value that person has to the company and determining how many years that coverage is needed for. I'm Tony Steuer, The Life Insurance Sage, that was my tip on key life insurance. Thank you for watching.

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