3) Keyman Cover
What would be the impact on your business if a key employee become seriously ill or passed away?
- Would the business activity / profit be severely impacted?
- Will bank borrowings be affected?
- Will key business contacts and market opportunities be lost?
Keyman cover is designed to cover the human assets of the business in the same way as fire insurance covers the physical assets of a building. The business is the policy owner, beneficiary of the proceeds in the event of a death or serious illness of the life assured (Keyperson), and the premium payer.
In the event of the death or serious illness of the person concerned, Keyperson Insurance will provide a guaranteed lump sum to the business. The amount of cover depends on a number of factors based on your individual business circumstances.
We would be delighted to assess the needs of your business and advice on appropriate protection for your company.