KEY MAN / BUSINESS INSURANCE
Many companies have one individual who is key to the success of the business. Whether it’s the owner, a partner, a majority shareholder, or someone with unique expertise, the death of that person could mean financial ruin for the company.
Key person Insurance is a simple solution in which the business purchases an insurance policy on the life of the key person. If they die, the policy proceeds provide capital to help the business recover from the loss. We can help you to evaluate your needs and make appropriate arrangements.
The biggest assets of most businesses are the directors and senior management. So what is the likely impact on a company when a key executive becomes critically ill or dies?
The business may continue, but the financial consequences and disruption to day-to-day operations could be enormous – and possibly even terminal for the company. We can provide invaluable advice about protecting your business against such circumstances.