Key Person Cover

Key person protection injects cash into your business on the loss of a key person through disablement, suffering a major illness such as cancer, stroke, heart attack etc, or untimely death.

A key person is someone whom the business relies upon for cash flow, market share, expertise, contacts, knowledge and experience.

If this person was unable to perform their normal duties, the profitability of the company would be dramatically impacted

The death or disablement of a key person could impact the business in a number of ways:

  • Loss of profits and additional costs not only in finding a replacement but also in getting them up to speed with the business operation.
  • Loss of customers and valuable contacts.
  • Loss of market share as competitors take advantage of the situation.

Running a business is demanding enough when you’re all alive and healthy.

Continuity of the business enterprise is at risk in the event of an untimely death or serious disablement of a key person.