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Key Person Insurance

Key Person Insurance or Key Man Insurance provides financial protection for the business owners agains lost profits, revenue or even the capital value of your business should a key member of your team suffer a major llness or injury or premature death

It is generally taken out by the corporate entity where there is a potential risk to the ongoing financla health of the business should such an event occur.

In large business this is common practice at the executive level but is even more important at the small business level because of the inherantly higher value and therefore financial risk with key personel.

This cover is designed to provide protection and help offset the costs of hiring a successor and the training required and cover the lost revenue during this process.

A key person can be an executive, key sales person, IP holder in the firm or any other staff member who's departure from the business would have a financial impact worth insuring against.

The level of cover is determined by assessing the financial gap in the event of such occurance. Premiums are tax deductible to the business and insurance proceeds are taxed as revenue.

Our role here is to help you determine the financial gap and source the most appropriate key person cover for your requirements and budget and implement the policy for you

It’s never too early to invest in your future