Key Person Insurance

There’s nothing mysterious about key person cover. Put simply, it insures a business’s key people in case they die, become critically ill or find themselves unable to work due to long term sickness. The success of almost all small and medium sized businesses depends on a few people who make a significant contribution. So making sure the business is covered in the event of their death or serious illness is a fundamental step.

What would happen to your business if you or another key person were unable to work due to illness or injury?

The key person may be you, the person whose vision created the business. It could be the sales manager, whose contacts and relationships with the customers make sure that sales stay on target and the business is profitable. Often a person’s value to your business is reflected in their remuneration. So that’s a good place to start when you’re trying to identify your key people.