Case Study Snapshot: Key Person Failure to Survive

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Investors in a start-up biomedical company were seeking $5,000,000 of key person insurance to cover the life of the firm’s 37-year-old CEO and patent holder.  Not only were the investors looking to indemnify the capital put into the fledgling company, but the CEO was integral to the oversight of the sales and manufacturing processes that would ensure the continuation of the company in the short and long term.

The CEO was a type I diabetic whose insulin injections were managed by a pump.  So far, the disease had not caused any other complications, but out of caution, the traditional market carriers had declined offering any coverage.

Petersen International was able to offer a $5,000,000 death benefit through the Key Person Failure to Survive product.