Design: Using 1 Table As A Source For 3 Others

I have a general design question that has me a little stumped.
I have tried doing a number of searches on this subject, but have so far come up with nothing close. Maybe I am just using the wrong keywords, so if this has been covered before I apologize in advance.

The idea is that I have one table that can hold many records in a group, that will then be referenced in numerous other tables in the database. This way I can have a single table to hold this information instead of one for each other table that will reference it.

As an example. I have three tables.
Clients
Vendors
Company

Each of these tables need to have a pointer to a group of phone numbers. Each client, vendor, or my company could have multiple phone numbers, phone, fax, cell etc. I need to be able to maintain foreign key relationships as I don't want to end up with orphans in the phone table.

I can't use a foreign key field in the phone table with links to all three other tables.
I also don't want to create three link tables which would hold the keys to the clients table, and the keys to the phone table.

One thing I did think about is a structure similar to this:
Company:
Phone_Key int (Foreign Keyed to Phone_Key in Phone)
Other company info fields.

Vendors:
Phone_Key int (Foreign Keyed to Phone_Key in Phone)
Other Vendor info fields.

Clients:
Phone_Key int (Foreign Keyed to Phone_Key in Phone)
Other client info fields

Phone:
Phone_Key int PK identity
Parent_Key int FK to Phone_Key
Other info for the phone info


So I create the first phone number entry in the Phone table and assign it's key to the client's table Phone_Key field. (Or any of the other two table's records)

Next I create any additional phone entries in the Phone table assigning Parent_Key the primary number's Phone_Key.

Is this an acceptable approach, or is there a better less convoluted method for designing the table structure?

Second if this is good, how can I configure SQL server to have a default value for Parent_Key which matches the row's Phone_Key value if I don't provide a parent_key value during the insert? I would prefer to not use triggers at this point.

I know that I would have to deal with logic to handle deleting the primary phone_key from the group, but that is doable easily enough.

Thank you,
Chris