{"id":4477,"date":"2026-10-23T09:42:41","date_gmt":"2026-10-23T09:42:41","guid":{"rendered":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-key-salesperson-client-relationships\/"},"modified":"2026-10-30T05:21:48","modified_gmt":"2026-10-30T05:21:48","slug":"key-person-insurance-key-salesperson-client-relationships","status":"publish","type":"page","link":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-key-salesperson-client-relationships\/","title":{"rendered":"Key Person Insurance for Top Salesperson | Miami CPA"},"content":{"rendered":"\n
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Key Person Insurance | Miami, Florida<\/p>

Protect Your Business When a Top Salesperson Drives Your Revenue<\/h1>

Key person life insurance from NR CPAs & Business Advisors, with a CPA's view of tax and cash flow. Insurance is offered by Nischay Rawal, a licensed insurance agent, separately from our accounting practice.<\/p>

Call us today to schedule a coverage review<\/a><\/div>
Call us today to schedule a coverage review<\/a><\/div><\/div>\n<\/div><\/div>\n\n\n\n
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Who we serve<\/h2>\n

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Miami<\/h3>

Based in Miami, Florida<\/p><\/div>

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Florida<\/h3>

Business owners and families across the state<\/p><\/div>

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U.S.<\/h3>

Clients across the United States, including Indian-American households and business owners<\/p><\/div><\/div>\n\n<\/div>\n\n\n

By Nischay Rawal \u00b7 Published October 23, 2026<\/p>\n\n

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Key person insurance<\/a> for top salesperson coverage is a life policy that a business owns on the one person whose client relationships carry much of its revenue. The company pays the premiums and receives the death benefit. Below is a general overview of how this arrangement typically works and what to consider before buying.<\/p>\n

What key person insurance is and who it fits<\/h2>\n

Key person insurance is a life policy a business buys on the life of someone whose loss would hurt the company’s finances. The company is the owner and beneficiary, and the insured is the employee. The Insurance Information Institute<\/a> explains that this coverage compensates a business for financial losses caused by a key employee’s death or disability.<\/p>\n

It fits businesses where a few client relationships carry a large share of contracts or renewals. Picture a firm whose largest accounts renew because one account executive holds the buyer’s trust. If that person dies, the company may lose renewals, pipeline and cash flow at the same time.<\/p>\n

This page covers the sales-role case. Ownership transfer and succession cases are different, and they connect to our buy-sell agreement insurance and related practice areas.<\/p>\n\n

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Not sure what your next step is?<\/h3>

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

Why a salesperson’s client relationships create an insurable interest<\/h2>\n

A business can buy this policy only when it has an insurable interest. That means a real financial stake in the person’s continued life. Florida law lets a person have an insurable interest in another person’s life where there is an expectation of a substantial pecuniary advantage through that person’s continued life, health, and safety, and a consequent substantial pecuniary loss from that person’s death, injury, or disability (Fla. Stat. \u00a7 627.404<\/a>). That test describes an individual’s interest, and a business that buys coverage on a key person is governed by a different provision of the statute.<\/p>\n

A general employee’s work can often pass to someone else. A rainmaker holds named accounts and personal trust, and clients may not renew without that person. That difference is what the business must be able to show.<\/p>\n

Records that may help document a business’s connection to a key person, although the statute does not list them, usually include:<\/p>\n