Key Person
What would it cost you if a Key Person in your business died or suffered a serious illness or injury?
Key Person insurance is a lump sum payment used to off-set the costs that the business would incur due to a Key Person no longer able to perform their role.
The lump sum payment may be used to recruit a new staff member, cover the losses of the business while finding a suitable replacement or cover the losses for terminating the business, should it be unable to run without the Key Person.