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Add to Favourites Key Person AssuranceHaving taken much time and effort to establish your own company and reputation, would you be able to continue trading successfully should one of your key employees suddenly die or are taken seriously ill? Do you think your current business interests would be safeguarded if one of your business associates died, or could you wake up with the unwelcome interference of a third party, buying into your business?
Often for a very small monthly premium it is possible to insure an employee’s/partners life so that if something were to happen to them you would be financially protected against any loss this may create. For example:
Similarly if a partner died this type of insurance could provide you with a lump sum to purchase their share of the business which is likely to have been passed on to a family member. |
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MLP Limited Authorised and Regulated by the Financial Services Authority |
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Key
person insurance is a type of life assurance policy that protects
a company’s financial interests in the event of one of its
key employees dying/became seriously ill. It can also be used by
partnerships or small corporations to provide a lump sum for the
purchase of shares or the interest of a partner if they die / become
seriously ill.