Peace of mind can be bought.
Key man insurance helps to protect your business against the loss of any person, partner, executive, or employee who is critical to the ongoing success of the business.
A sudden, prolonged absence or even death of a businesses key person is likely to be detrimental and cause strain and financial loss.
Consider a founder who is strongly identified with the company’s success or a top salesperson who brings in the lion’s share of annual revenue: If that person were to suddenly become injured or die, it’s likely the business would lose considerable income in the short term. The purpose of key man insurance is to compensate for loss incurred and help the business rebuild.
The primary purpose of Key Man Insurance is to offset the losses and costs that you will bear if you lose a key person. In the case of loss of a valuable employee, Key Man Insurance will compensate you with a fixed monetary sum, which is stated in your insurance policy.
To find out more call (02) 8268 2900 and speak to one of our Advisors, obligation free.
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