Key Person Insurance

The objective of key person insurance is to compensate a business for loss of profits on the death, critical illness, or disability as a result of sickness or accident of an employee.

As a business owner you will have considered disaster recover and contingency planning; but have you thought about how the loss of a particular person would impact on the profitability of the company?

Key person insurance is designed to protect your business against loss of profits.  As with any insurance it is important that the proceeds are in the right hands at the right time.  It is the business that will suffer loss and needs to be insured against it.