Keyman Insurance

Every business has someone that contributes significantly to the day to day running or profitability of a business. That person might be you, a business partner or simply a key member of staff. Have you considered what would happen to the business if something happened to that person (death or illness)?

• Lost expertise
• Lost orders
• affect on profit
• affect on other people
• creditor confidence (bank, suppliers)
• affect on customers (relationships, lost knowledge, service standards)

Keyman insurance could provide your business with a lump sum or an income that could buy you the time to replace a key person, train another member of staff to do a particular job or pay recruitment costs.

Keyman insurance is particularly important for small business where the effect of one person can be significant on a  small group. Larger companies may wish to consider shareholder protection.