The INFORMED Overview

Key Man (or Key Person) Insurance aims to provide for the continuity of the business if something happens to key people. It is a form of Life Insurance generally taken out by the business to cover financial losses that would arise from their death or incapacity.

Key Person Insurance – The key pointers

  • Select the appropriate key person(s)
  • Provide the right level of cover
  • Appreciate the relationship to other financial commitments

Who to cover

Key Person  can be anyone directly associated with the business whose loss  would cause financial strain to the business. For example, they could be a Director of a company, a Partner, key sales people, key project managers and people with specific skills or knowledge which is especially valuable to the company.

What is covered?

A Key Person policy does not cover the actual losses incurred it provides a fixed compensation specified on the policy itself. Generally there are three categories of loss for which Key Man Insurance can provide compensation:

Protect losses

When the key person is unable to work and to provide temporary or if necessary permanent replacement

Protect profits

Offsetting lost income from lost sales; or losses resulting from the delay or cancellation of any business that the key person was involved in; or lost opportunity to expand and the loss of specialised skills or knowledge

Protection of Guarantors

The value of insurance cover is arranged to equal the value of the guarantee given by the key person.
Informed has special expertise in helping business as they grow.

An important cover for a growing successful business

Of course our first meeting leaves you with no obligation or cost. We look forward to helping you to become informed.

Make your first step towards getting in touch

Simply call 01628 638822 or just use the reply email.

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