{"id":5609,"date":"2024-12-06T20:07:49","date_gmt":"2024-12-06T20:07:49","guid":{"rendered":"https:\/\/webdesign.quoteplicity.com\/keyperson\/?page_id=5609"},"modified":"2024-12-17T16:59:21","modified_gmt":"2024-12-17T16:59:21","slug":"key-person-calculator-new","status":"publish","type":"page","link":"https:\/\/webdesign.quoteplicity.com\/keyperson\/key-person-calculator-new\/","title":{"rendered":"Key Person Calculator (new)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5609\" class=\"elementor elementor-5609\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8e541f6 e-flex e-con-boxed e-con e-parent\" data-id=\"8e541f6\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;video&quot;,&quot;background_video_link&quot;:&quot;https:\\\/\\\/webdesign.quoteplicity.com\\\/keyperson\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/crowd.mp4&quot;,&quot;shape_divider_bottom&quot;:&quot;mountains&quot;,&quot;background_play_on_mobile&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-background-video-container\">\n\t\t\t\t\t\t\t<video class=\"elementor-background-video-hosted\" role=\"presentation\" autoplay muted playsinline loop><\/video>\n\t\t\t\t\t<\/div>\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" opacity=\"0.33\" d=\"M473,67.3c-203.9,88.3-263.1-34-320.3,0C66,119.1,0,59.7,0,59.7V0h1000v59.7 c0,0-62.1,26.1-94.9,29.3c-32.8,3.3-62.8-12.3-75.8-22.1C806,49.6,745.3,8.7,694.9,4.7S492.4,59,473,67.3z\"\/>\n\t<path class=\"elementor-shape-fill\" opacity=\"0.66\" d=\"M734,67.3c-45.5,0-77.2-23.2-129.1-39.1c-28.6-8.7-150.3-10.1-254,39.1 s-91.7-34.4-149.2,0C115.7,118.3,0,39.8,0,39.8V0h1000v36.5c0,0-28.2-18.5-92.1-18.5C810.2,18.1,775.7,67.3,734,67.3z\"\/>\n\t<path class=\"elementor-shape-fill\" d=\"M766.1,28.9c-200-57.5-266,65.5-395.1,19.5C242,1.8,242,5.4,184.8,20.6C128,35.8,132.3,44.9,89.9,52.5C28.6,63.7,0,0,0,0 h1000c0,0-9.9,40.9-83.6,48.1S829.6,47,766.1,28.9z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0801850 elementor-invisible elementor-widget elementor-widget-n-carousel\" data-id=\"0801850\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;carousel_items&quot;:[{&quot;slide_title&quot;:&quot;Slide #1&quot;,&quot;_id&quot;:&quot;b3cd83f&quot;},{&quot;slide_title&quot;:&quot;Slide #2&quot;,&quot;_id&quot;:&quot;d9dffe5&quot;},{&quot;slide_title&quot;:&quot;Slide #3&quot;,&quot;_id&quot;:&quot;4ee1544&quot;},{&quot;_id&quot;:&quot;387e4e1&quot;,&quot;slide_title&quot;:&quot;Slide #4&quot;},{&quot;slide_title&quot;:&quot;Slide #4&quot;,&quot;_id&quot;:&quot;85fca7d&quot;}],&quot;autoplay_speed&quot;:2000,&quot;_animation&quot;:&quot;slideInDown&quot;,&quot;slides_to_show_tablet&quot;:&quot;2&quot;,&quot;slides_to_show_mobile&quot;:&quot;1&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;infinite&quot;:&quot;yes&quot;,&quot;speed&quot;:500,&quot;offset_sides&quot;:&quot;none&quot;,&quot;image_spacing_custom&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;image_spacing_custom_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;image_spacing_custom_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-carousel.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-carousel swiper\" role=\"region\" aria-roledescription=\"carousel\" aria-label=\"Carousel\" dir=\"ltr\">\n\t\t\t<div class=\"swiper-wrapper\" aria-live=\"off\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"1\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"1 of 5\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b1632d6 e-flex e-con-boxed e-con e-child\" data-id=\"b1632d6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6f43cb9 e-con-full e-flex e-con e-child\" data-id=\"6f43cb9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5e0cd51 elementor-widget elementor-widget-image\" data-id=\"5e0cd51\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/5-star-color.svg\" class=\"attachment-large size-large wp-image-1299\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c84cb7 elementor-widget elementor-widget-heading\" data-id=\"8c84cb7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">\u201cTop-notch guidance\u201d<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"2\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"2 of 5\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f35c6b e-flex e-con-boxed e-con e-child\" data-id=\"8f35c6b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7fc606f e-con-full e-flex e-con e-child\" data-id=\"7fc606f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-849a4ae elementor-widget elementor-widget-image\" data-id=\"849a4ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/5-star-color.svg\" class=\"attachment-large size-large wp-image-1299\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d34270 elementor-widget elementor-widget-heading\" data-id=\"7d34270\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">\u201cBest value\u201d<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"3\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"3 of 5\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8d6ba8 e-flex e-con-boxed e-con e-child\" data-id=\"b8d6ba8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-76a5816 e-con-full e-flex e-con e-child\" data-id=\"76a5816\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7b9bc96 elementor-widget elementor-widget-image\" data-id=\"7b9bc96\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/5-star-color.svg\" class=\"attachment-large size-large wp-image-1299\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80263f1 elementor-widget elementor-widget-heading\" data-id=\"80263f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">\u201cStep-by-step support\u201d<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"4\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"4 of 5\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-36bbcb9 e-flex e-con-boxed e-con e-child\" data-id=\"36bbcb9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-47f617e e-con-full e-flex e-con e-child\" data-id=\"47f617e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-88516df elementor-widget elementor-widget-image\" data-id=\"88516df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/5-star-color.svg\" class=\"attachment-large size-large wp-image-1299\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4098791 elementor-widget elementor-widget-heading\" data-id=\"4098791\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">\u201cVery dilligent\u201d<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"swiper-slide\" data-slide=\"5\" role=\"group\" aria-roledescription=\"slide\" aria-label=\"5 of 5\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ef00f44 e-flex e-con-boxed e-con e-child\" data-id=\"ef00f44\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-64740d9 e-con-full e-flex e-con e-child\" data-id=\"64740d9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fdd730e elementor-widget elementor-widget-image\" data-id=\"fdd730e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/5-star-color.svg\" class=\"attachment-large size-large wp-image-1299\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04c3293 elementor-widget elementor-widget-heading\" data-id=\"04c3293\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">\u201c5 STARS!!!\u201d<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fe3ca02 e-flex e-con-boxed e-con e-parent\" data-id=\"fe3ca02\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4694f57 e-con-full e-flex e-con e-child\" data-id=\"4694f57\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;none&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c7510ed elementor-widget elementor-widget-heading\" data-id=\"c7510ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Calculate your needs<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea9f508 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"ea9f508\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Key Man Insurance Calculator<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4788fa8 elementor-widget__width-inherit elementor-widget elementor-widget-html\" data-id=\"4788fa8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\n#calculatorForm {\n  font-family: Arial, sans-serif;\n  background: #f8f7f2;\n  color: #282006;\n  margin: 0px;\n}\n\n#calculatorForm h2 {\n  color: #017561;\n    font-size:20px;\n    font-weight:600;\n}\n\n#calculatorForm .step, \n#calculatorForm #step4 {\n  display: none;\n  border-radius: 5px;\n  padding: 20px;\n  margin-bottom: 20px;\n  box-shadow: 0 2px 5px rgba(0,0,0,0.1);\n    background-color:#eaf3f4;\n}\n\n#calculatorForm .step.active,\n#calculatorForm #step4.active {\n  display: block;\n}\n    \n.step p span {\n    font-weight: bold;\n}\n\n#calculatorForm label {\n  display: block;\n  margin-bottom: 5px;\n  font-weight: bold;\n    line-height:1.5em;\n}\n\n#calculatorForm input[type=\"text\"],\n#calculatorForm input[type=\"range\"],\n#calculatorForm select {\n  width: 100%;\n  padding: 8px;\n  margin-bottom: 15px;\n  border: 1px solid #ccc;\n  border-radius: 3px;\n  box-sizing: border-box;\n}\n    #calculatorForm input[type=\"range\"]{\n        padding:0;\n    }\n#calculatorForm fieldset {\n  border:none;\n    margin:0;\n    padding:0;\n}\n\n#calculatorForm button, a#seePolicyCostBtn {\n  background-color: #017561;\n    text-decoration:none;\n  color: #fff;\n  padding: 10px 20px;\n  border: none;\n  border-radius: 100px;\n  cursor: pointer;\n  font-size: 16px;\n  margin-right: 10px;\n    height:45px;\n    display:inline-block;\n    \n}\n    a#seePolicyCostBtn{\n        background-color:#FF701F;\n        font-family:'merriweather', 'times new roman',serif;\n        font-weight:bold;\n    }\n    \n.percentSlide {\n    display: flex;\n    flex-direction:column;\n    align-items: center;\n    gap: 10px;\n}\n    .percentSlide .row{\n        display: flex;\n        align-items:center;\n        width:100%;\n        justify-content: space-around;\n        gap:10px;\n    }\n    .percentSlide input#contribution{\n        margin:0;\n    }\n    .percentSlide .range-label {\n        border: solid 1px #cecece;\n        display: block;\n        padding: 5px;\n        background: #f5f5f5;\n        margin-top:5px;\n    }\n\n#calculatorForm button:hover {\n  background-color: #01594d;\n}\n    a#seePolicyCostBtn:hover{\n        background-color:#ec6112;\n    }\n\n#calculatorForm .results p {\n  margin: 10px 0;\n}\n\n#calculatorForm .results {\n  margin-top: 20px;\n}\n\n.range-label {\n  display: inline-block;\n  margin-top: -10px;\n  font-weight: normal;\n  font-size: 14px;\n  color: #282006;\n}\n<\/style>\n\n<div id=\"calculatorForm\">\n  \n  <form id=\"keyPersonForm\">\n    <!-- Step 1 -->\n    <div class=\"step\" id=\"step1\">\n      <h2>Step 1: Define the Role<\/h2>\n      <label for=\"kp_type\">Is The Key Person an Employee Only Or Owner\/Shareholder?<\/label>\n      <select id=\"kp_type\" name=\"kp_type\">\n        <option value=\"employee\">Employee Only<\/option>\n        <option value=\"owner\">Owner\/Shareholder<\/option>\n      <\/select><br>\n\n      <div id=\"ownerFieldsStep1\" style=\"display:none;\">\n        <label for=\"ownership\">Ownership Amount Of Key Person (0-100%) (ownership):<\/label>\n          <div class=\"percentSlide\">\n            <div class=\"row\">\n                <span id=\"ownershipValue\" class=\"range-label\">50%<\/span>\n            <\/div>\n            <div class=\"row\">\n                0% <input type=\"range\" id=\"ownership\" name=\"ownership\" min=\"0\" max=\"100\" step=\"1\" value=\"50\"> 100%\n            <\/div>\n        <\/div>\n      <\/div>\n\n      <button type=\"button\" onclick=\"goToStep(2)\">Next<\/button>\n    <\/div>\n\n    <!-- Step 2 -->\n    <div class=\"step\" id=\"step2\">\n      <h2>Step 2: Assess Replacement Difficulty<\/h2>\n      <label for=\"difficulty_replace\">How Difficult To Replace Key Person?<\/label>\n      <select id=\"difficulty_replace\" name=\"difficulty_replace\">\n        <option value=\"difficult\">Difficult<\/option>\n        <option value=\"very_difficult\">Very Difficult<\/option>\n      <\/select><br>\n\n      <label for=\"difficulty_hire\">How Difficult To Hire & Train Replacement To 100% Efficiency?<\/label>\n      <select id=\"difficulty_hire\" name=\"difficulty_hire\">\n        <option value=\"difficult\">Difficult<\/option>\n        <option value=\"very_difficult\">Very Difficult<\/option>\n      <\/select><br>\n\n      <button type=\"button\" onclick=\"goToStep(1)\">Previous<\/button>\n      <button type=\"button\" onclick=\"goToStep(3)\">Next<\/button>\n    <\/div>\n\n    <!-- Step 3 -->\n    <div class=\"step\" id=\"step3\">\n      <h2>Step 3: Input Financial Data<\/h2>\n      <label for=\"annual_income\">Annual Income Of Key Person:<\/label>\n      <input type=\"text\" id=\"annual_income\" name=\"annual_income\" placeholder=\"$\"><br>\n\n      <label for=\"avg_net_revenue\">Average Net Revenue Of The Company:<\/label>\n      <input type=\"text\" id=\"avg_net_revenue\" name=\"avg_net_revenue\" placeholder=\"$\"><br>\n\n      <label for=\"contribution\">Contribution of Revenue from Key Person:<\/label>\n        <div class=\"percentSlide\">\n            <div class=\"row\">\n                <span id=\"contributionValue\" class=\"range-label\">30%<\/span>\n            <\/div>\n            <div class=\"row\">\n                0% <input type=\"range\" id=\"contribution\" name=\"contribution\" min=\"0\" max=\"100\" step=\"1\" value=\"30\"> 100%\n            <\/div>\n        <\/div>\n      <br>\n\n      <fieldset id=\"ownerFieldsStep3\" style=\"display:none;\">\n        <label for=\"fmv\">Fair Market Value Of The Company:<\/label>\n        <input type=\"text\" id=\"fmv\" name=\"fmv\" placeholder=\"$\"><br>\n\n        <label for=\"debt\">Total Debt:<\/label>\n        <input type=\"text\" id=\"debt\" name=\"debt\" placeholder=\"$\"><br>\n      <\/fieldset>\n\n      <button type=\"button\" onclick=\"goToStep(2)\">Previous<\/button>\n      <button type=\"button\" onclick=\"calculatePolicy()\">Calculate<\/button>\n    <\/div>\n\n    <!-- Step 4 (Results) -->\n    <div class=\"step\" id=\"step4\">\n      <h2>Results<\/h2>\n      <p>Minimum Policy: <span id=\"min_policy\" class=\"formatCurrency\"><\/span><\/p>\n      <p>Maximum Policy: <span id=\"max_policy\" class=\"formatCurrency\"><\/span><\/p>\n      <p>Recommended Policy: <span id=\"recommended_policy\" class=\"formatCurrency\"><\/span><\/p>\n      <button type=\"button\" onclick=\"goToStep(3)\">Previous<\/button>\n      <a id=\"seePolicyCostBtn\" target=\"_blank\">See Policy Cost<\/a>\n    <\/div>\n  <\/form>\n<\/div>\n<script>\n  const steps = document.querySelectorAll('.step');\n  let currentStep = 1;\n\n  \/\/ Utility function to format currency output\n  function formatCurrency(value) {\n    return '$' + value.toLocaleString('en-US', { maximumFractionDigits: 0 });\n  }\n\n  \/\/ Setup \"as-you-type\" formatting for currency fields\n  function initCurrencyField(id) {\n    const field = document.getElementById(id);\n    if (!field) return;\n\n    \/\/ On initial load, if empty, set to '$'\n    if (!field.value.startsWith('$')) {\n      field.value = field.value.replace(\/[^\\d]\/g, '');\n      field.value = field.value ? '$' + parseInt(field.value, 10).toLocaleString('en-US', {maximumFractionDigits:0}) : '$';\n    }\n\n    field.addEventListener('input', () => {\n      const rawNumber = field.value.replace(\/[^\\d]\/g, '');\n      field.value = rawNumber ? '$' + parseInt(rawNumber,10).toLocaleString('en-US', {maximumFractionDigits:0}) : '$';\n      \/\/ Move cursor to end\n      field.setSelectionRange(field.value.length, field.value.length);\n    });\n  }\n\n  \/\/ Update displayed percentage for sliders\n  function updateSliderDisplay(sliderId, valueId) {\n    const slider = document.getElementById(sliderId);\n    const valueSpan = document.getElementById(valueId);\n    if (!slider || !valueSpan) return;\n\n    slider.addEventListener('input', () => {\n      valueSpan.textContent = slider.value + '%';\n    });\n  }\n\n  \/\/ Show\/hide owner fields based on kp_type\n  function toggleOwnerFields() {\n    const kpType = document.getElementById('kp_type').value;\n    const ownerFieldsStep1 = document.getElementById('ownerFieldsStep1');\n    const ownerFieldsStep3 = document.getElementById('ownerFieldsStep3');\n\n    if (kpType === 'owner') {\n      ownerFieldsStep1.style.display = 'block';\n      ownerFieldsStep3.style.display = 'block';\n    } else {\n      ownerFieldsStep1.style.display = 'none';\n      ownerFieldsStep3.style.display = 'none';\n    }\n  }\n\n  document.getElementById('kp_type').addEventListener('change', () => {\n    toggleOwnerFields();\n    saveFormData();\n  });\n\n  \/\/ Save form data to localStorage\n  function saveFormData() {\n    const formData = new FormData(document.getElementById('keyPersonForm'));\n    const dataObj = {};\n    for (let [key, val] of formData.entries()) {\n      dataObj[key] = val;\n    }\n    localStorage.setItem('keyPersonData', JSON.stringify(dataObj));\n  }\n\n  \/\/ Load form data from localStorage\n  function loadFormData() {\n    const savedData = JSON.parse(localStorage.getItem('keyPersonData') || '{}');\n    for (const key in savedData) {\n      const field = document.getElementById(key);\n      if (field) {\n        field.value = savedData[key];\n      }\n    }\n    toggleOwnerFields();\n  }\n\n  \/\/ Move to a specific step\n  function goToStep(stepNumber) {\n    \/\/ Save current data before switching steps\n    saveFormData();\n    currentStep = stepNumber;\n    steps.forEach((step, index) => {\n      step.classList.toggle('active', index === (stepNumber - 1));\n    });\n  }\n\n  \/\/ Difficulty multipliers\n  const difficultyMap = {\n    'difficult': 1.0,\n    'very_difficult': 1.5\n  };\n\n  function calculatePolicy() {\n    \/\/ Save before calculating\n    saveFormData();\n\n    const kpType = document.getElementById('kp_type').value;\n    const diffReplace = document.getElementById('difficulty_replace').value;\n    const diffHire = document.getElementById('difficulty_hire').value;\n\n    \/\/ Parse fields removing $ and commas\n    function parseMoneyField(id) {\n      const val = (document.getElementById(id).value || '').replace(\/[^\\d]\/g, '');\n      return parseFloat(val) || 0;\n    }\n\n    const A = parseMoneyField('annual_income');\n    const R = parseMoneyField('avg_net_revenue');\n    const C = (parseFloat(document.getElementById('contribution').value) || 0) \/ 100;\n\n    const O = (parseFloat(document.getElementById('ownership').value) || 0) \/ 100;\n    const FMV = parseMoneyField('fmv');\n    const D = parseMoneyField('debt');\n\n    const replaceFactor = difficultyMap[diffReplace];\n    const hireFactor = difficultyMap[diffHire];\n\n    \/\/ Calculate components\n    const ALR = R * C;             \/\/ Actual Lost Revenue\n    const CC = A * replaceFactor;  \/\/ Contribution Component\n    const LRC = ALR * hireFactor;  \/\/ Lost Revenue Component\n\n    const MinP = A * 7;\n    let MaxP, RecP;\n\n    if (kpType === 'employee') {\n      MaxP = A * 20;\n      const diff = MinP - (ALR + CC + LRC);\n      if (diff < 1) {\n        RecP = ALR + CC + LRC;\n      } else {\n        RecP = MinP;\n      }\n    } else {\n      \/\/ Owner\/Shareholder\n      MaxP = (FMV * O) + (D * O) + (A * 20);\n      RecP = (FMV * O) + (D * O) + (ALR + CC + LRC);\n    }\n\n    \/\/ Format the values before displaying\n    document.getElementById('min_policy').textContent = formatCurrency(MinP);\n    document.getElementById('max_policy').textContent = formatCurrency(MaxP);\n    document.getElementById('recommended_policy').textContent = formatCurrency(RecP);\n      \n    \/\/ After determining RecP, before goToStep(4):\n    const coverageAmount = Math.round(RecP); \/\/ ensure it's an integer if needed\n    document.getElementById('seePolicyCostBtn').href = 'https:\/\/keypersoninsurance.quoteplicity.com\/quote\/term?coverage=' + coverageAmount;\n\n    \/\/ Then move to step 4\n    goToStep(4);\n\n  }\n\n  \/\/ On page load\n  window.addEventListener('load', () => {\n    loadFormData();\n    goToStep(1);\n\n    \/\/ Initialize currency fields\n    initCurrencyField('annual_income');\n    initCurrencyField('avg_net_revenue');\n    initCurrencyField('fmv');\n    initCurrencyField('debt');\n\n    \/\/ Update sliders display\n    updateSliderDisplay('contribution', 'contributionValue');\n    updateSliderDisplay('ownership', 'ownershipValue');\n\n    \/\/ Set initial displayed values for sliders from loaded data\n    const contributionSlider = document.getElementById('contribution');\n    const contributionValue = document.getElementById('contributionValue');\n    contributionValue.textContent = contributionSlider.value + '%';\n\n    const ownershipSlider = document.getElementById('ownership');\n    const ownershipValue = document.getElementById('ownershipValue');\n    ownershipValue.textContent = ownershipSlider.value + '%';\n  });\n\n  \/\/ Save data on input changes\n  document.getElementById('keyPersonForm').addEventListener('input', saveFormData);\n<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5017b1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a5017b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a872c8b elementor-widget elementor-widget-text-editor\" data-id=\"a872c8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Our keyman insurance calculator helps businesses determine the right coverage for crucial employees, ensuring financial stability, uninterrupted operations, and a secure future.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b162288 e-flex e-con-boxed e-con e-child\" data-id=\"b162288\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0d2da8e e-grid e-con-full e-con e-child\" data-id=\"0d2da8e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-991840f elementor-widget elementor-widget-image\" data-id=\"991840f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"248\" height=\"158\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/10\/bbb-white-border-updated.png\" class=\"attachment-large size-large wp-image-4782\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a26d0b2 elementor-hidden-mobile elementor-widget elementor-widget-image\" data-id=\"a26d0b2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/naifa.png\" class=\"attachment-large size-large wp-image-1099\" alt=\"\" srcset=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/naifa.png 600w, https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/naifa-300x300.png 300w, https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/naifa-150x150.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3133fd5 elementor-hidden-mobile elementor-widget elementor-widget-image\" data-id=\"3133fd5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/mdrt.png\" class=\"attachment-large size-large wp-image-1100\" alt=\"\" srcset=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/mdrt.png 600w, https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/mdrt-300x300.png 300w, https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/mdrt-150x150.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89e72d8 elementor-widget elementor-widget-image\" data-id=\"89e72d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"574\" height=\"600\" src=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/duns.png\" class=\"attachment-large size-large wp-image-1115\" alt=\"\" srcset=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/duns.png 574w, https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-content\/uploads\/2024\/11\/duns-287x300.png 287w\" sizes=\"(max-width: 574px) 100vw, 574px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b219c83 e-flex e-con-boxed e-con e-parent\" data-id=\"b219c83\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1ce38ce e-con-full e-flex e-con e-child\" data-id=\"1ce38ce\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-395e854 elementor-widget elementor-widget-heading\" data-id=\"395e854\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3 Easy Steps to Get Your Estimate\u200b<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ce2f5a9 e-grid e-con-full e-con e-child\" data-id=\"ce2f5a9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-980afff e-con-full e-flex e-con e-child\" data-id=\"980afff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-82e6e10 elementor-widget elementor-widget-heading\" data-id=\"82e6e10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Define the role<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-170349f elementor-widget elementor-widget-text-editor\" data-id=\"170349f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIdentify if the key person is an employee or owner, ensuring accurate coverage estimates.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a8da27b e-con-full e-flex e-con e-child\" data-id=\"a8da27b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-44645a9 elementor-widget elementor-widget-heading\" data-id=\"44645a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Assess the Difficulty\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7759ed8 elementor-widget elementor-widget-text-editor\" data-id=\"7759ed8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tConsider how challenging it would be to replace their unique skills and contributions.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-347f2ed e-con-full e-flex e-con e-child\" data-id=\"347f2ed\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3a97d95 elementor-widget elementor-widget-heading\" data-id=\"3a97d95\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Input Financials\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d763aa elementor-widget elementor-widget-text-editor\" data-id=\"5d763aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Provide the key person\u2019s salary, benefits, bonuses, and company revenue details.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c259a71 e-flex e-con-boxed e-con e-parent\" data-id=\"c259a71\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f35bea4 e-con-full e-flex e-con e-child\" data-id=\"f35bea4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-610c38c elementor-widget elementor-widget-heading\" data-id=\"610c38c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Understand Your Results\u200b<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b6552f elementor-widget elementor-widget-text-editor\" data-id=\"3b6552f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Our calculator provides a reference range of coverage options to help you choose the best insurance policy. The range accounts for different scenarios and ensures you have adequate protection.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36b4734 elementor-widget elementor-widget-text-editor\" data-id=\"36b4734\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Every circumstance is unique. For example, start-up companies seeking key person insurance may have special circumstance to consider when calculating the right amount of coverage. It is highly recommended that you work with an insurance professional.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71dcb37 elementor-widget elementor-widget-text-editor\" data-id=\"71dcb37\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Properly identifying and insuring your key individuals is crucial to ensure your business future.<\/p><p>Adequate key person insurance is vital for protecting your business against the unforeseen loss of an invaluable team member.<\/p><p>Use our Keyman Insurance Calculator to determine how much coverage you need and consult with our experts for personalized advice.<\/p><p>Take the first step in securing your business. Wise risk management strategies are inherent in successful businesses. Use our Keyman Insurance Calculator now for a free estimate. Then get a custom quote for the lowest rates for the nation&#8217;s top companies.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-486c641 e-con-full e-flex e-con e-child\" data-id=\"486c641\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c1ed6bb elementor-widget elementor-widget-text-editor\" data-id=\"c1ed6bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div><h2>How Our Key Man Calculator Gets You Results<\/h2><p>Let\u2019s get one thing out of the way quickly \u2013 key employee, key person, and key man all virtually mean the same thing. Here at KeyPersonInsurance.com, we are preferential to \u2018key person,\u2019 but when it comes to making accurate calculations splitting hairs has its benefits. As we discuss the different key man valuation methods below, we will make a simple distinction between two of our variables:<\/p><ul><li>Key Employee \u2013 a non-owner, zero equity employee. <em>(Example: top salesman)<\/em><\/li><li>Key Person \u2013 an owner or shareholder with equity. (<em>Example: founder or CEO)<\/em><\/li><li>Key Man \u2013 all of the above<\/li><\/ul><\/div><p>\u00a0<\/p><p>The key man calculator you see before you (on the left) generates live calculations based on the information you provide. We understand that businesses often have multiple key people, so we made sure that you could quickly run multiple calculations without any headache. Below, you will find helpful step-by-step definitions and considerations for how to get the most accurate estimation for your key employee and key person coverage.<\/p><h3>Step One: Define Their Role<\/h3><p>You have two options: <em>Employee Only<\/em> and <em>Owner\/Shareholder<\/em>. This is a simple but integral aspect of the calculation. If the individual you are seeking coverage for has equity in the company, then you\u2019ll have to account for the price of their equity and involvement in the business.<\/p><p>\u00a0<\/p><h3>Step Two: Replacement Difficulty<\/h3><p>This is really where the \u201cestimate\u201d in our calculation estimate comes to roost. None of us have a crystal ball, so the best anyone can do is not over-complicate the unknown. Every key man is going to be difficult to replace; that\u2019s what makes them key. But if you have a top salesman who has deep relationships with your biggest clients or an engineer who can do what only a handful of others can, then that will be very difficult.<\/p><ul><li>How Difficult Will It Be To Replace Your Key Person?<\/li><li>How Difficult Will It Be To Hire And Train A Replacement To 100% Efficiency?<\/li><\/ul><p>When answering these two questions, it is important to consider the reality your business will be in if you lost this person. What would need to happen in order to get the company back on track? Would the company even be able to continue its operations if this key employee is gone tomorrow? Would your investors back out? These are very nuanced questions with much deeper considerations. But nobody wants to write an essay into a calculator between meetings. Our key man calculator accounts for these complexities by providing a range rather than a single value.<\/p><h3>Step Three: Financial Data<\/h3><p>It\u2019s all number-crunching from here on out. If you\u2019re a business owner or an employee tasked with putting this information together, then we probably don\u2019t need to tell you what these data inputs are. However, you may want to incorporate future estimates as well. For instance, if your key employee currently makes $80,000 annually but they are likely to get a raise in the near future, you probably want to include that here. Benefits like bonuses, sales incentives, etc., all of this should be added to the total annual income.<\/p><p>Finally, if you are seeking coverage for a business owner, the total debt should be for the company as a whole. Our calculator will use this to estimate the owner\u2019s obligation to that debt.<\/p>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"5771\" class=\"elementor elementor-5771\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-d165f82 e-flex e-con-boxed e-con e-parent\" data-id=\"d165f82\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4601e99 elementor-widget elementor-widget-button\" data-id=\"4601e99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/webdesign.quoteplicity.com\/keyperson\/key-person-calculator-new\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-calculator\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M400 0H48C22.4 0 0 22.4 0 48v416c0 25.6 22.4 48 48 48h352c25.6 0 48-22.4 48-48V48c0-25.6-22.4-48-48-48zM128 435.2c0 6.4-6.4 12.8-12.8 12.8H76.8c-6.4 0-12.8-6.4-12.8-12.8v-38.4c0-6.4 6.4-12.8 12.8-12.8h38.4c6.4 0 12.8 6.4 12.8 12.8v38.4zm0-128c0 6.4-6.4 12.8-12.8 12.8H76.8c-6.4 0-12.8-6.4-12.8-12.8v-38.4c0-6.4 6.4-12.8 12.8-12.8h38.4c6.4 0 12.8 6.4 12.8 12.8v38.4zm128 128c0 6.4-6.4 12.8-12.8 12.8h-38.4c-6.4 0-12.8-6.4-12.8-12.8v-38.4c0-6.4 6.4-12.8 12.8-12.8h38.4c6.4 0 12.8 6.4 12.8 12.8v38.4zm0-128c0 6.4-6.4 12.8-12.8 12.8h-38.4c-6.4 0-12.8-6.4-12.8-12.8v-38.4c0-6.4 6.4-12.8 12.8-12.8h38.4c6.4 0 12.8 6.4 12.8 12.8v38.4zm128 128c0 6.4-6.4 12.8-12.8 12.8h-38.4c-6.4 0-12.8-6.4-12.8-12.8V268.8c0-6.4 6.4-12.8 12.8-12.8h38.4c6.4 0 12.8 6.4 12.8 12.8v166.4zm0-256c0 6.4-6.4 12.8-12.8 12.8H76.8c-6.4 0-12.8-6.4-12.8-12.8V76.8C64 70.4 70.4 64 76.8 64h294.4c6.4 0 12.8 6.4 12.8 12.8v102.4z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Try our Calculator Tool<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<h3>Range Definitions<\/h3><p>Our calculator offers a range rather than a single value because every situation is unique. A tech company and a car dealership could very well perform exactly the same financially, but the operation and the people that make it happen will have vastly different key person considerations.<\/p><p>Our minimum and maximum coverage amounts are based on industry guidelines that the majority of insurance companies follow. The minimum is what you need in order to not under-insure your key employee, while the maximum is the most coverage a carrier will likely allow. Finally, our recommended amount is a careful estimate based on all of the values you provide.<\/p><p>Feel free to make adjustments and dream a little. You now have an excellent estimate of how much coverage your business should acquire on its key people. The next step is to find out how much it costs. Luckily, our instant quoter is one click away.<\/p><h2>Methods for Valuing Key Employee Coverage<\/h2><p>Like anything in life, the goal for key person valuation should be to determine the right amount of coverage \u2013 no more, no less. This is why we take the needs-based approach to calculate the amount of life insurance needed based on the unique needs of the business, such as covering the amount of revenue your key employee brings in. There can be a huge difference between what you <em>can get<\/em> and what you <em>actually need<\/em>.<\/p><p>For example, let\u2019s say your business is borrowing $10 million for a project expansion. That doesn\u2019t mean an insurance company will willingly write a $10 million policy on your CEO \u2013 and even if they <em>are <\/em>willing to write it, that doesn\u2019t necessarily mean that you should accept it. Specific details are required to <a href=\"https:\/\/www.keypersoninsurance.com\/underwriting-key-person\/\" target=\"_blank\" rel=\"noopener\">justify the insurance amount<\/a> requested:<\/p><ul><li>How much of the company does your CEO own?<\/li><li>How much of the $10 million loan is tied to the CEO\u2019s equity?<\/li><li>What is the annual income of your CEO?<\/li><li>How difficult would it be to find someone else who can do what they do?<\/li><li>How much revenue is at risk if the CEO is gone tomorrow?<\/li><\/ul><p>These questions are the framework to pinpoint the amount of coverage the company should secure on their CEO or any key employee. Business continuation is a nuanced equation. There is no one policy-fits-all, which is why we utilize three different methods for analyzing key person insurance coverage.<\/p><h3>Method One: Multiples of Income<\/h3><p>The multiples of income method is the simplest and most common form of determining the value of a key employee:<\/p><p><em>7x Annual Income of Key Employee<\/em><\/p><p>Most insurance companies use the multiples of income method as a general guideline. Of course, depending on the specifics of the position, higher multiples may be justified as much as 20 times the current salary, including bonuses or benefits. So, while the justifications may be complex, the math couldn\u2019t be simpler. For example, using the multiples of income method, an executive making $200,000 in compensation and benefits should reasonably be covered at $1.4 million of key man insurance at minimum. Typically, this method of valuation is used for non-equity key employees.<\/p><h3>Method Two: Replacement Cost<\/h3><p>The replacement cost method determines key person coverage based on what it could cost to replace your executive. Replacement cost is determined by salary, as well as expected costs required to hire, train, and completely replace the key person to 100% efficiency. Our calculator factors this in with your choice of \u201cdifficult\u201d or \u201cvery difficult to replace\u201d because if it was easy to replace your key employee\u2026 well, they might not actually be that key.<\/p><h3>Method Three: Contributions to Revenue<\/h3><p>The contributions to earnings method is calculated based on the estimated percentage of your key employee or key person\u2019s contribution to the company\u2019s bottom line. For example, a top salesperson in a small business may contribute 50% or more of the sales of the company directly resulting in half of the company\u2019s profits. In this case, it is vital that your top salesman\u2019s revenue contribution is factored into your key person coverage. After all, if you lose your salesman, you lose your sales.<\/p><p>\u00a0<\/p><h2>Two Key Distinctions<\/h2><p>The key person valuation methods discussed above are not set in stone. Each case merits specific considerations, which is why we always dig deeper into individual circumstances. Whether they are an employee only or own shares of the company is one aspect. A business owner valuation requires additional information, including the fair market value of the business as well as any outstanding debt.<\/p><p>If your business is in the start-up phase, our calculator will not be much help to you. The reason for this is because start-ups require a deeper analysis that isn\u2019t strictly financial since there typically isn\u2019t much financial record to go on. If your company is in the start-up phase and you need to insure your key people, whether it&#8217;s for an SBA loan or simply to protect the foundation of your new company, the next right step is to speak with an expert.<\/p>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"5970\" class=\"elementor elementor-5970\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-f0db84b e-flex e-con-boxed e-con e-parent\" data-id=\"f0db84b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4a2f2c0 btn-orange-outline elementor-widget elementor-widget-button\" data-id=\"4a2f2c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/appointments.zohosites.com\/\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Book Consultation<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>\u201cTop-notch guidance\u201d \u201cBest value\u201d \u201cStep-by-step support\u201d \u201cVery dilligent\u201d \u201c5 STARS!!!\u201d \u201cTop-notch guidance\u201d \u201cBest value\u201d \u201cStep-by-step support\u201d \u201cVery dilligent\u201d \u201c5 STARS!!!\u201d Calculate your needs Key Man Insurance Calculator Step 1: Define the Role Is The Key Person an Employee Only Or Owner\/Shareholder? Employee OnlyOwner\/Shareholder Ownership Amount Of Key Person (0-100%) (ownership): 50% 0% 100% Next Step [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5609","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/pages\/5609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/comments?post=5609"}],"version-history":[{"count":124,"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/pages\/5609\/revisions"}],"predecessor-version":[{"id":6688,"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/pages\/5609\/revisions\/6688"}],"wp:attachment":[{"href":"https:\/\/webdesign.quoteplicity.com\/keyperson\/wp-json\/wp\/v2\/media?parent=5609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}