Keyman Insurance Policy
What is Keyman Insurance?
Keyman insurance, also known as key person insurance, is a policy that a business takes out to protect itself against the financial loss that could occur if a vital employee or executive were to pass away or become unable to work. This coverage ensures that your business can continue operating while adjusting to the loss of a key individual.
Who Needs Keyman Insurance?
Businesses reliant on the expertise, reputation, or connections of key individuals.
Startups with small teams where each member is critical to operations.
Companies seeking to secure loans or investments, as many lenders require it.
Benefits of Keyman Insurance
Ensures financial stability during difficult times.
Funds recruitment and training of replacements.
Boosts investor and lender confidence.