Keep your business running today as good as it was yesterday.
As a business owner, you’ve probably arranged insurance to protect your valuable business assets, such as buildings and equipment, but it’s also important to get the key person of the company insured so your business can continue to exist and trade as normal.
A key person is someone whom the business relies upon for cash flow, market share, expertise, contacts, knowledge and experience, etc. If this person were not there, or was unable to perform their normal duties, the profitability of the company would be dramatically impacted. Key cover insurance is there when the key person was unable to work due to illness, injury, trauma, permanent disablement or worst of all, death.
What you need to know about our Key Person Insurance
Highlights of what’s included:
- Monthly payments on an agreed amount if the key person was unable to work due to illness or injury.
- A lump sum payment if you choose to cover your key person for trauma, life or disability insurance.
- Peace of mind that you are getting financial support to help your business during a difficult time.
What’ not included:
- You will not be entitled to get cover until the business is three years old.
- Only available for occupational classes 1,2 and 3.
Is Key Person Insurance right for your business?
If you know your business will be heavily impacted your key person was to unexpectedly suffer an injury, illness, trauma or pass away then key person insurance will help alleviate some of that stress and the potential financial burden.
Here are some of the reasons why our customers purchase Key Person Insurance:
- They’re a business owner or partner who is critical to trading operations
- They have employees who either possess skills and knowledge that are vital to the business operations and success, or has someone who builds and manages key relationships and business contacts and are integral to the survival and growth of the business.
Reassurance that they will have less financial stress whilst looking for a replacement and potentially dealing with loss of market share or loss of customers.