Key person and partnership insurance
Losing a key member of your business through death, terminal illness or permanent disability can have a damaging impact on your profitability. Lost sales, reduced profits, and extra recruitment costs are just some of the potential problems. There may be business succession costs too.
To protect your business, and to provide funds at a critical time, our senior consultants can help you to arrange key person insurance - often called key man insurance. The lump sum can be used to:
- Replace lost income
- Recruit and train a successor
- Buy a business partner's or shareholder's stake in the business
- Pay off outstanding business liabilities
- Supplement salary payments
Benefits can be made available quickly through a simple, yet effective, trust option, so that you have funds when you need them. Key person insurance can include key partnership and shareholder protection.
Click here to arrange a time to discuss safeguarding your business's future - without obligation Conversations will be conducted in your own language.
You may be interested in some of our other services:International companies, trusts and tax planning Group insurance Pension & provident schemes
What is key person insurance?
It's a life insurance plan, with or without optional critical illness cover. Protection is also available as term assurance.
Identifying key people
- Make a major contribution to sales or profitability
- Experience, expertise, or skills difficult to replace
- Own important customer relationships