Getting key man or woman insurance in place can support your business in difficult times. Read our guide to how key person cover works.
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At the heart of every successful business are talented, dedicated and capable people, but none of us know what the future will bring. Our research found that 59% of businesses believe they would have to stop trading in less than a year after the death or critical illness of a key individual.
A key person insurance policy, such as our Key Person Protection, helps safeguard a company against the financial impact of death, terminal illness (if the life expectancy is less than 12 months), or a specified critical illness (if chosen for an extra cost at the outset) of a key person.
Policy proceeds are paid directly to the business to help replace the key person and help cover any profit loss. The policy proceeds could help your business to continue trading.