Key Man Policies

Key Man Assurance Policy / Key Man Insurance

The term “Key Man” in this instance refers to an important person or individuals who are of key importance for the successful operation of a company &  should they no longer exist, the company would suffer as a result both in loss of the individual and their work contribution to the company.

So the term “Key Man” insurance is described as a life or disability policy taken out by the business as a beneficiary in the event of the death or disability to a particular key employee.

The risk of not taking out such a policy is called “Key Person Assurance”.  Best described as a policy taken out by the business and paid for by the business on the life of the key person. Should the key person die or become disabled the policy will pay a lump sum out to the business. These funds could then be used for the purpose to finance the business during the time that the business searches for a suitable replacement for the key person.

Otherwise known as either of the following:

key woman insurance
key man insurance
key man assurance
key man policy
key man policies
key man exposure
key man risk
key man dependency
key man life insurance
key executive coverage
key person coverage
key employee coverage
business life insurance

As this process can be complicated to implement, why not have one of our professionals come and meet up with you to discuss your requirements? Life is complicated enough as it is. We give you many options to chose from.

Provident Fund / Key Man Policies / Buy & Sell Agreement / Business Assurance / Unit Trust Investment/ Wealth Management / Fund Manager / Family Trust

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