Business insurance · Seattle, WA (King County)
Key Person Insurance & Executive Bonus in Seattle, Washington
45.4% of Seattle homes are owner-occupied (U.S.: 65.0%), and the median home value is $867,500, well above the U.S. median of $303,400. Coverage on vital employees whose loss would disrupt operations, plus Section 162 executive bonus designs that can help retain leadership with tax-advantaged structure discussions. Olive, a licensed agent with Manna Financial Services, helps Seattle, WA households compare key person insurance by phone or video, and the first conversation is free.
What matters for key person insurance in Seattle
9.6% of Seattle workers are self-employed (U.S.: 9.8%). Owners often need to cover themselves as well as their team, so we look at personal and business coverage together.
Seattle by the numbers
- 45.4% of Seattle homes are owner-occupied (U.S.: 65.0%), and the median home value is $867,500, well above the U.S. median of $303,400.
- 5.7% of Seattle adults aged 19 to 64 have no health insurance, well below the U.S. rate of 11.1% (the 2nd-lowest uninsured rate for adults 19 to 64 of the 13 West U.S. communities on this site).
- The median household income in Seattle is $121,984, well above the U.S. average of $78,538, the 2nd-highest median household income of the 13 West U.S. communities on this site.
- 9.6% of Seattle workers are self-employed, about the same as the U.S. figure of 9.8%. Self-employed people have no employer plan for health, life or disability coverage.
Seattle and nearby communities
| Place | Self-employed | Median household income | Population |
|---|---|---|---|
| Seattle | 9.6% | $121,984 | 741,251 |
| Los Angeles | 16.2% | $80,366 | 3,857,897 |
| Phoenix | 9.7% | $77,041 | 1,630,195 |
| San Diego | 11.6% | $104,321 | 1,385,398 |
| U.S. | 9.8% | $78,538 | 334,914,895 |
Sources: U.S. Census Bureau, American Community Survey 2019–2023 5-year estimates.
How we help with key person insurance
- Business liquidity if a key contributor dies or, with riders, becomes disabled
- Supports lending conversations and continuity planning
- Section 162 executive bonus designs for retention conversations
- Company-paid premiums may be deductible as compensation in many structures
Rules that apply in Washington
- Business-owned life insurance usually needs coordination with your attorney and CPA, especially for buy-sell agreements and employer-owned policies.
- Employer-owned life insurance has federal notice-and-consent rules before the policy is issued.
- We are licensed for insurance and annuities only and do not give tax or legal advice.
Questions from Seattle
Who owns and pays for a key person policy?
Typically the company pays premiums, owns the policy, and is the beneficiary. If the key employee dies, the company receives the death benefit under current tax rules for many designs.
Do I need to visit an office in Seattle?
No. Olive works with Seattle and King County households by phone or video, so you can compare options from home. Most applications and signatures can be completed online.
Key Person Insurance & Executive Bonus near Seattle
Talk with Olive about key person insurance.
Free, no obligation, by phone or video. Or call or text (937) 388-5346.