Key Person Insurance
Many small to medium sized businesses find they have one or two important people, without whom it would be difficult to continue operating as normal. Key Person Insurance provides cover if one of these integral people were to be disabled by sickness or injury and unable to work. This effectively gives time for the person to recover and/or the business to plan ahead and organise appropriate measures to continue running.
Features of Key Person Insurance:
- The business can use the provided benefit however it likes
- A number of people within the same business can be covered
- A key person can be anyone who generates at least 20% of the business' gross income, or who has an important operational impact (such as a CEO)
- 12 months benefit payment period
Do you think you require this protection? Click on the below link to complete our self-assessment: