Key Person Insurance
Designed to protect your business against the financial impacts of death, disability, or critical illness of a key person.
Many small to medium businesses rely on a few key employees. If these key people are diagnosed with a terminal illness or were to pass away it can have a roll-on effect for the greater business. Having key person insurance can cover any loss in revenue the business may suffer due to their loss.
How do I choose the right cover?
Typically, one can get key person policies which offer life insurance only, disability insurance only, critical illness only or a combination of the three.
What Does Key Person Insurance Cover?
Cover will vary based on your business and which employees you may choose to cover. You are not limited to your directors and officers and a key person can be any individual who significantly contributes to a business’s financial success due to their skills, knowledge or experience.