This Just In...
British tea company Tetley has insured the taste buds of one of its master blenders for $1.58 million. Sebastian Michaelis, a master blender, says he “can identify and grade a blend of tea within 15 seconds of tasting it,” according to the UPI report.
While you might not have employees with skills that specialized, you might have certain employees whose skills, knowledge or connections are vital to the success of your business. Although you can’t insure general business skills, you can insure the lives of these people with key employee life insurance. Key employee life insurance, bought by the employer, will pay the employer a benefit if this individual dies an untimely death. You can use the proceeds to hire a consultant, conduct a job search or for other expenses related to locating and hiring a replacement.
You can also buy company-owned disability insurance on key employees. For more information on insuring your talent, please contact us.
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