The loss of a critical person can be a significant blow to any charter school, especially if that person is instrumental to the management of your charter school. The loss of any key person may also make running your charter school less efficient and result in unforeseen difficulties.

Did you know that the losses caused by the death of a key employee are insurable? Critical employee insurance will compensate the school against significant losses that result from that person’s death or disability.   The amount and cost of insurance needed for a particular school depend on the situation and the key employee’s age, health, and role.

Key employee life insurance pays a death benefit to the charter school when the key employee dies. The company usually owns the policy, which pays the premiums and is the beneficiary. To find out more about how this insurance works and what your charter school can do to cover a key employee, please contact our office.