Key Person Insurance

Business Protection can help protect your company if the unexpected happens. What would happen if you were to lose a key member of staff? Imagine if it were your Sales Director who has relationships with your customers, your IT Director or your Financial Director?

Whatever the size and stage of your business, many rely on the core skills and knowledge of individuals. Losing them suddenly could cause real problems.

It could lead to:

  • Loss of clients/contracts
  • Loss of profit
  • Reduced capacity
  • Unable to pay a bank loan
  • Reduced knowledge

When a shareholder or partner dies:

  • Those left will usually have to find a large sum of money to buy their share.
  • If funds aren’t available, shares could end up going to outside investors or to the family of the deceased.
  • You may wish to make contributions if an employee is struck down by critical illness.

If you are self-employed, the risk of illness is equally serious. Without the correct protection your family could be vulnerable to unexpected costs that could have far-reaching implications in business and personal circumstances.

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