Whilst many companies happily insure themselves against the loss of valuable materials such as vehicles, office equipment, IT equipment etc, many companies do not cover against serious illness or the death of any personnel who are paramount to the successful running of the company.
Losing a Key person can have devastating financial consequences for your company such as:
Key person protection provides a lump sum of capital which helps safeguard a business against the financial effects of death, terminal illness and critical illness of a key person. The policy proceeds are paid directly to the business to be used to help replace the key person and help cover the loss of profits that may occur. The policy proceeds could help your business to continue trading.