Key Person Insurance

The leaders of a business play a vital role in the success of the company. The loss of one of these leaders can have a detrimental effect. Recent research by L&G found that 59% of businesses believe they would have to stop trading in less than a year after the death or critical illness of a key individual.

Key Person Insurance helps to safeguard against the financial loss brought about by the death, terminal illness (if life expectancy is less than 12 months), or specified critical illness (if selected) of a key person and so could help the business to carry on trading in the event of one of these scenarios. The insurance pay out could be used by the business to replace lost profit or to source and recruit and train a replacement.

Don’t forget, our professional friendly advisors are on hand to support you and can help you explore all of your options.