Key Person Insurance

Are you a business owner? Is Your Business Prepared for the Unexpected?

We all know that people are the heart of any successful business. But what happens when a key individual, someone critical to your company’s operations, suddenly falls ill or passes away?

This is where Key Person Insurance comes in and can protect businesses from the potential financial turmoil that can arise from an indispensable employee’s death, critical illness, or serious injury.

Have you thought about what could happen if you lost your main salesperson who brings in the majority of your revenue, your tech genius who built your software or your CEO with irreplaceable leadership skills?

Below are a few things that could potentially happen if you lost key individuals in your business:

• Disrupted operations and project delays.
• Loss of revenue and clients.
• Difficulties securing financing.
• Recruitment and training costs.

Key Person Insurance can help your business navigate these challenges by providing a lump sum payout that could be used for the following:

• Cover operational expenses.
• Recruit and train new talent.
• Reassure stakeholders.
• Pay off debts.

If you are a business owner and have not considered Key Person Insurance, it’s worth speaking to a professional to find out if this could benefit you.

Published Feb 2025

It is important to take professional advice before making any decision relating to your personal finances. Information on this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for information purposes only.