If you were to lose someone vital to the running of your business how would you cope? Key person cover helps to safeguard your company’s future.
Losing a key person in your business may have a serios effect on the success of your business. Protecting your business with Key person cover could minimise the effect of losing a key employee, it could potentially minimise the impact to a minimum should the key person die or become seriously ill. The policy would pay a lump sum to make up any losses in revenue, profits or increased workloads for the remaining staff, helping you keep the business moving forward after the loss of a key employee to your business.The lump sum could significantly help the business to recover as the proceeds can be used to help replace lost profit or with finding and hiring a replacement.
The policy is owned and paid for by the employer, so any pay-out is payable to the employer.