Key person insurance
A ‘key person’ can be defined as an employee with specialist knowledge, experience and skills
Key person insurance provides a lump sum to the business which can give you breathing space to find a replacement for lose a highly-trained employee, or one who carries out unique functions.
Business Loan Protection
Business loan protection provides funds to repay a business loan, commercial mortgage, or a director’s loan if one of the company’s owners were to die or be diagnosed with a serious or terminal illness.
It comprises a life cover or critical illness policy taken out on the life of the business owner or key person.