With many small and medium sized companies dependent on a few specialist individuals, Key Person Cover is designed to help protect the business in the event of death or severe illness of one or more key employees.
Compensate your business for Key Person absence
How it Helps
If the key person were to die or suffer from a severe illness, the policy pays out a lump sum to make up for any loss in your revenue or profits, helping to keep your business on track.
How much cover do you need?
When calculating your cover, it’s a good idea to consider:
Loan repayments
Replacement of lost profits
Cost of recruitment of replacement personnel
Repayment of partners' /directors' loan accounts