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Disability Insurance Observer: Key

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One obvious lesson of the launch of the Patient Protection and Affordable Care Act (PPACA) public exchange system is, whether you love PPACA or hate it: Allow adequate time to test new websites!

Another, somewhat less obvious lesson is: Organizations doing anything interesting need key person insurance.

At least one state-based exchange executive director made headlines by announcing a need to take disability leave while the exchange website was going through a troubled launch.

Given how many hours the exchange organizers and exchange vendor employees are working to try to get exchange websites and administrative systems creak to life, it seems reasonable to think that there are plenty of other emergency exchange disability leave situations that never made the news.

One question is how many organization owners and top organization executives even know about the existence of such a thing as key person disability insurance, let alone the cost.

Maybe many owners and executives would decide, in the lovely, calm time before anything has started going wrong, to do without that kind of coverage, but it seems as if the turmoil at the exchange programs is an example of why agents and brokers should bring the product — and the concepts of cross-training and knowledge management — to potential customers’ attention.

What if an exchange were facing a mountain of system glitches — and then the project manager who has the glitch forms memorized gets very, very sick? What then?

What if some ordinary business faces its own version of that situation, and the magic maker who understands everything gets very, very sick? What then?

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