{"id":10759,"date":"2026-11-04T06:04:48","date_gmt":"2026-11-04T06:04:48","guid":{"rendered":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-estate-us-and-india\/"},"modified":"2026-11-06T08:41:52","modified_gmt":"2026-11-06T08:41:52","slug":"key-person-insurance-estate-us-and-india","status":"publish","type":"page","link":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-estate-us-and-india\/","title":{"rendered":"Key Person Insurance for US and India Estates | NR CPAs"},"content":{"rendered":"\n
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Key Person Insurance | Miami and Florida<\/p>

Key Person Insurance for US and India Estates<\/h1>

Life insurance that helps your business keep operating and protect the people who depend on it. Start with a coverage review with NR CPAs & Business Advisors in Miami.<\/p>

Call us today<\/a><\/div>
Call us today<\/a><\/div><\/div>\n<\/div><\/div>\n\n\n

By Nischay Rawal \u00b7 Published November 4, 2026<\/p>\n\n

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Key person insurance<\/a> is a life insurance policy a business buys on an owner, executive or employee whose death would hurt the company. When that person’s family, assets or heirs sit in both the United States and India, the policy, the business agreement and the estate papers must match across both countries. This page explains how these pieces fit. NR CPAs & Business Advisors is a Miami CPA firm. Insurance is offered by our licensed insurance agent, Nischay Rawal, separately from the accounting practice.<\/p>\n

What Key Person Insurance Is and Who It Is For<\/h2>\n

Key person insurance is business-owned life insurance on someone the company would struggle to replace.<\/p>\n

In most cases, the business applies for the policy, pays the premiums and names itself as beneficiary. Florida law lets a business insure an owner, officer or key employee only after that person consents in writing. The law also bars the business from retaliating against any key employee or key person who does not consent to insurance on his or her life (Fla. Stat. \u00a7 627.404<\/a>).<\/p>\n

Closely held companies, partnerships and professional practices with one or two critical people often review this coverage first.<\/p>\n

Personal life insurance works differently. An individual may buy a policy on his or her own life for the benefit of any person, such as a spouse or child, under the same Florida statute.<\/p>\n\n

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If you're handling this after a partner's death or a co-owner's exit, you don't have to sort out two countries alone; call us to set up a coverage review. Talk it through with our team — we can walk you through how a situation like yours is usually handled and what your options are.<\/p>

Schedule a coverage review<\/a><\/div>
Schedule a coverage review<\/a><\/div><\/div>\n<\/div>\n\n
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What the Policy Covers and What Is Included<\/h2>\n

The death benefit is paid by the insurer to the beneficiary when the insured dies, either as a single sum or otherwise. The business sets the face amount by estimating its loss. Common items include lost revenue during a search for a replacement, hiring and training costs, and debt the company may need to repay.<\/p>\n

Two policy types matter most here:<\/p>\n