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810-230-1266
Location
2357 Stonebridge Dr. Flint, MI 48532

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Key Person Benefits

Home > Key Person Benefits

Key Person & Executive Benefits

When one person matters this much, plan for it

Most businesses depend on a handful of people who would be hard to replace. If one of them dies, becomes disabled or walks away, the company can lose sales, momentum and the confidence of lenders and clients. The right coverage keeps the business steady, and gives your best people a reason to stay.

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Owners & partners

The people who sign the loans and hold the vision.

Top producers

The salesperson or rainmaker behind a big share of revenue.

Specialists

Licenses, technical skill or know-how that takes years to replace.

Relationship holders

The person key clients, lenders or suppliers count on.

Protecting the Business

Three ways to keep the business running

Our benefit specialists, financial consultants and underwriters help you decide what you need and how much, based on your company’s real numbers.

01

If a key person dies unexpectedly

Key Person Life Insurance

The business owns the policy, pays the premium and receives the benefit, sized to what that person is worth to the company.

Helps cover
  • Recruiting and training a replacement
  • Lost revenue during the transition
  • Paying down business loans
02

If an owner can't work for a while

Business Overhead Expense Disability

Pays the bills that keep coming while an owner recovers from an illness or injury, so the doors stay open.

Helps cover
  • Rent and utilities
  • Employee salaries
  • Loan payments and other fixed costs
03

If a partner dies, becomes disabled or retires

Buy-Sell Agreements

A plan for who buys that person’s share of the business and how it gets paid for, usually funded with life insurance.

Helps cover
  • A smooth ownership transfer
  • Fair value for the family
  • Continuity for clients and staff

Taking Care of Key People

Why group coverage falls short at the top

Group disability usually pays a percentage of salary up to a monthly cap, and often ignores bonuses and commissions. For your highest earners, that can leave half their income unprotected.

Supplemental executive disability and life coverage close that gap, and they’re a strong reason for your best people to stay.

Illustration · $240,000 salary
Monthly pay
$20,000
Group disability (60%, capped)
$10,000
With executive disability added
$14,000
Group coverage alone replaces50% of pay

Hypothetical example assuming a group plan that pays 60% of salary up to $10,000 a month. Actual caps, percentages and supplemental amounts vary by plan and carrier.

No Cost to You

Our guidance, education and support come at no charge. Carriers pay us, so you get an advocate without another invoice.

Real Expertise

Licensed advisors who read your data and your goals, then explain your options in plain English.

Truly Unbiased

With 30+ carriers to choose from, we recommend what fits your business, never what fills a quota.

How It's Set Up

Built around your numbers

We start with who matters most and what losing them would cost, then match the coverage to it.

01

Name your key people

We talk through who drives revenue, holds relationships or keeps operations running.

02

Put a value on the risk

Replacement costs, lost revenue and any loans they guarantee set the coverage amount.

03

Choose the coverage

Key person protection for the business, plus executive benefits for the people themselves.

04

Review as you grow

Revenue, roles and partners change. We revisit the plan so coverage keeps up.

Before You Buy

A few things worth knowing

Key person and executive plans come with specific rules and tax considerations. We’ll guide the setup, and your CPA can advise on the tax side.

Notice and consent come first

For company-owned life insurance, the employee must be told in writing and agree before the policy is issued. Skipping this can make the death benefit taxable.

Premiums usually aren't deductible

When the company pays and is the beneficiary, premiums generally aren’t a tax deduction, though the death benefit is generally income-tax free when the rules are followed.

Policies are individually underwritten

Key person life and disability coverage usually involve health questions, so coverage is easier to get while people are healthy.

Buy-sell agreements need the right team

We fund the agreement. Your attorney drafts it and your CPA advises on structure, and we coordinate with both.

General information, not tax or legal advice.

Questions

What people ask us about key person coverage

Anyone whose loss would hurt revenue or operations: an owner, a partner, a top salesperson or someone with hard-to-replace skills or relationships.

It depends on what losing that person would cost. We look at revenue they drive, replacement and training costs, and any loans they guarantee, then size coverage to match.

With key person insurance, the business is the beneficiary and can use the money however it needs to keep running. Executive benefits, like supplemental disability, pay the key person directly.

Often it can be transferred to the employee, kept for a new key person, or surrendered, depending on the policy type. We’ll walk you through the options.

Yes. Supplemental life and disability for a few key people can be set up without changing the group plan for everyone else.

More for Employers

Other ways we can help

Building the core plan?

Employee Benefits

Group health, life, disability and more, designed around your team.

Learn More →

Employees asking for more?

Voluntary Benefits

Dental, vision, accident and more at group rates, paid through payroll.

Learn More →

Deadlines piling up?

Compliance & Administration

ACA, ERISA and COBRA handled, plus online enrollment.

Learn More →

Protect what you've built, and the people building it.

We’ll look at your key people, what losing one would cost and where group coverage falls short, then show you the options side by side. No obligation.

What to have ready
  • The people you'd consider key, and their roles
  • Their salary, bonus and commissions
  • Any loans or agreements that need coverage
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Prefer to call?
810-230-1266
Sources
  • Aetna
  • Allianz
  • Blue Cross Blue Shield of Michigan
  • Delta Dental
  • Everence Trust Life
  • HAP
  • Humana
  • McLaren Health Plan
  • North American
  • Priority Health
  • UnitedHealthcare
  • VSP

Our Office

Security First Benefits Corporation

2357 Stonebridge Dr.
Flint, MI 48532

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“Send us a note about your coverage, your employees or your options, and a licensed advisor will get back to you.

We do not offer every plan available in your area. Currently we represent [#] organizations which offer [#] products in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.

© 2026 Security First Benefits Corporation. All rights reserved.

GENERAL DISCLAIMER:

 
Security First Benefits Corporation is a licensed insurance agency authorized to market Medicare plans. This is a solicitation for insurance, and a licensed agent may contact you after you request a quote. Benefit information is a brief summary, not a full description of benefits; contact the plan for details. Limitations, copayments and restrictions may apply. Security First Benefits Corporation is not connected with or endorsed by the U.S. government or the federal Medicare program.

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