Key Person Insurance

Key person insurance is a type of life insurance policy that is taken out by a business on the life of a key employee. 

The majority of small businesses recognise the need to insure their premises, stock and essential machinery against disaster. However, many fail to identify that the most critical assets are likely to be key members of staff.

Should the key person die or suffer from a critical illness the policy would pay out a lump sum to the business and the business can use these funds to cover the costs of losing the key employee whilst they recruit and train a replacement.

Most business owners and directors focus on doing what they do best, which is running the business. However, many may not consider the consequences should they lose a director or a key person. 

Our specialists will sit down with you to gain a picture of where your business is most exposed, enabling them to provide solutions should the unthinkable happen.