Key Person Protection

The loss of a key person in your business can have a huge impact on the success of your business, whether that person is a majority shareholder, partner or sales manager.

Key people can extend to any employees who are vital to the business and whose loss would have a significant impact.

These days it is becoming much more common for company directors or partners to insure each other against death or critical illness and set up option agreements regarding shares in the business.

Equally the company can insure its key people so that in the event of death or critical illness or maybe long term sickness, it covers the financial consequences such as recruitment, employment of temporary staff, training, loss of orders etc.

By taking out these insurances the company has security of ownership and is financially protected against the loss of key employees.