Key-man Insurance
Don't forget Key staff! Key-man or Key Person
As the majority of businesses are
built around people, the continued success may also
depend upon the special contributions made by a
small group of key 'men' or 'women'. Fellow
directors or partners should also be classed as key
persons. The death or disability of any of them
could threaten the company's profitability. Indeed,
its future survival could be at stake.
Keyman Solution
The premature death of any key
employee is likely to cause an
immediate requirement for cash, so life assurance
should be a main priority. However, it is not just
the death of a key employee that can create serious
financial burdens on the company. Today many serious
illnesses, such as heart attack, stroke or cancer,
no longer result in death but require lengthy
periods of convalescence. A key person insurance
contract can be written on the lives of key staff
that would provide money for this eventuality.
Summary
Not sure
if your
business may be in a vulnerable position should
this happen to any of your key employees,
then please
contact us
for a total independent, professional and detailed
analysis of your business requirements. |
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