Key person cover provides a capital injection to the business in the event of the involuntary departure of a director or key employee (i.e. Death, Serious Illness or Injury) to replace lost revenue or cover a capital requirement.
It is simply life insurance on the key person in a business.
We assess whether Key Man Insurance provides a net benefit for you and your business, or we can check what you may already have in place. Delivering one of the following outcomes:
How much would the business need until it could replace the key person?
Advice is important here, as many businesses actually over insure – select a policy that will address your short-term cash needs in case of a trigger event.