Key person protection solutions
Key person cover is insurance protection making sure that your business and its key stakeholders and key employees are going to be well protected under any circumstance in the absence of a key member.
Who is a key person?
A key person is an employee whose skill, knowledge, experience or leadership contributes to the continued financial success of the business. Such a person becomes incapacitated or dying during their employment may lead to financial instability or partial closure so that key person protection may help in this case.
What is key person protection?
Key Person Protection is a life insurance policy taken out by your business for a key person in the business. Critical Illness Cover and Critical Illness Extra can also be added to the policy when it is taken out and your business pays the premiums.
What are the benefits?
It can protect your finances in the short term
If losing a key person means lost profits, key person cover will help cover those costs until they’ve recovered.
Meet liabilities
Key person cover can protect against any liabilities that a business may have
Fund recruitment
Key person cover can fund the recruitment of a replacement.