Key Man Insurance - What would you do if a key staff member were suddenly gone?
- Protect against financial loss
- Protect against the loss of key skills
- Protect corporate finance guarantees
You’ve insured your business against theft, acts of god, even malicious damage by a member of staff. But what will you do if your star performer, the one person that makes the company soar, died suddenly or was injured in an accident and out of action for many months. How will your business cope with the inevitable losses and downturn in profits, or keep up with any financial guarantees made against that person? How will you keep the confidence of your creditors and suppliers?
Keyman Insurance can help by providing your business with compensation when a key member of staff cannot work through death or illness. It will allow you to:
- Ensure business continuity
- Hire or train replacement staff to maintain key business skills
- Sort out share ownership issues
- Offset lost income
- Protect guarantee business loans or banking facilities
- Keep up with debt repayments
- Maintain creditor confidence
- Sort out staff loan repayments
- Preserve the value of your business
Life Insurance for your business
Keyman Insurance is a vital part of any business planning for a long, profitable life. The policy pays out a fixed monetary amount that can be spent any way you choose to mitigate and adapt to the loss of a key member of staff. Your could cover the costs of hiring and training both temporary and permanent replacements, pay for losses incurred by delaying or even abandoning projects, and make sure the full amount of any guarantees on loans taken out in your key person’s name are covered.
Our Keyman Insurance service can provide:
- Free no-obligation quotes
- Competitive prices
- Expert advice
- Policies that cover directors, partners, shareholders and key employees
In short, Keyman Insurance makes sure that when you lose someone valuable, it doesn’t mean financial disaster for the entire business.
To find out the extent to which Keyman Insurance can help support your business, call and speak to one of our expert advisors now on 0800 433 2075.