Key Person Protection

updated: January 22, 2010

This section will be of interest to those of you who are directors or partners in small and medium sized companies or firms.

You are probably already aware from past experience that it is not easy to replace key people at short notice.  Even in very much smaller organisations key people are the most difficult and costly business asset to replace quickly.

You, or your bank, may have realised that one or more of your directors or senior staff are such key people that their untimely death or disability could have a devastating effect on the profits of the company.

By insuring the life of a key person against premature death or disability you can safeguard the business against the loss of profits and provide a breathing space during which time the company can be restructured or a suitable replacement found.

Key person protection aims to ensure the continuation of a business by financially compensating a company for the death or disability of one or more of their key employees.

To obtain further information please click here for our pdf Guide to Key Person Protection.