It’s time to talk key person insurance
Insuring the Key People in your business is always the smart move
Insuring the Key People in your business is always the smart move
Your people are your company’s greatest asset, so ensuring that your business is protected one of your key people pass away or succumb to long term ill health s would always form part of your corporate financial planning.
Irrespective of the size of your business, talk to us about insuring your key staff and securing your business.
Have any questions?
Simply call us on 08000 478 535 or
email info@fuladvice.co.uk
Key Person insurance, also called Keyman insurance, is an important form of business insurance. In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.
In a small business, the key person is usually the owner, the founders or perhaps a key employee or two.
The main qualifying point would be if the person’s absence would be detrimental the company.
See above. If the person’s absence would be detrimental the company then Key Person insurance would certainly be a good idea.
It might be a good idea. We advise speaking to a financial adviser.
The average cost of key person insurance varies and depends on numerous factors and details, so using a generic online calculator won’t provide you with an accurate figure.
Seek financial advice to determine what you need and what it will cost.