Keyman Insurance is a life insurance policy taken out by a business on the life of its key employees or executives. In the event of the untimely death or permanent disability of a key person, the company receives a lump sum payout. This helps to cover the potential financial impact caused by the loss, including loss of revenue, recruitment and training of a replacement, and overall disruption to the business.
Covers the loss of key individuals who are crucial to the business operations and revenue generation.
Provides immediate funds to help the company recover from the loss of a key person.
Tailored policies to meet the unique needs of your business and its key employees.
The loss of a key employee can result in significant financial consequences for your business. Keyman Insurance helps mitigate the financial burden by providing a lump sum payout to cover the impact, whether it’s lost revenue or additional costs for recruitment and training.
Quickly find and train a replacement.
Ensure continuity of operations during a challenging transition period.
Safeguard against the financial impact of losing a person who directly contributes to your company’s income.
Offering Keyman Insurance is a great way to show key employees that you are committed to their future and well-being. This demonstrates a long-term investment in their success, which helps improve employee loyalty and retention.
Assures key employees that the business will continue to thrive even after their departure.
Employees feel more secure in their role and are likely to stay longer.
Provides a safety net to the employee’s family in case of an unfortunate event.
Begin by identifying the key employees whose loss could impact the business. These are typically senior executives, founders, or employees with specialised skills critical to operations.
Our experts will work with you to design a Keyman Insurance policy that suits the financial value of the employee to your business. The policy can cover their life, health, or both depending on the risk assessment.
If the key employee passes away or becomes permanently disabled, the company will receive a lump sum payout. This financial boost helps the business cover any potential disruptions and ensures smooth operations continue.
Premiums paid towards Keyman Insurance policies can be claimed as a business expense, leading to tax savings. These savings make Keyman Insurance an even more attractive financial tool for your business.
Receive immediate funds to support business continuity in the event of the loss of a key employee.
Protect your business without the high cost of hiring a replacement before you are ready.
Ensures the long-term survival and success of your company.
If the key employee is the policyholder, their family receives financial protection.
Knowing that the business is secured, employees can focus on their roles without worrying about the company’s future in case of unforeseen events.
It’s time to take proactive steps to secure your business’s future. Let us guide you in securing a Keyman Insurance policy that best fits your needs.
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