What is key person insurance?
Key person insurance is also referred to as business insurance, it essentially insures the business against capital loss it would receive in the event that a key person in the business died or was diagnosed with specific critical illnesses.
Who is this policy for?
This policy is suitable for any business who wants to protect themselves in the unfortunate event something catastrophic happens to a key person within the business , key persons insurance is normally taken out by an employer, the money from the policy can go towards offsetting any losses or for hiring new staff amongst other things.