keyperson_insurance

Insurance designed to meet the specific protection needs of a key individual in a business.

Key Person Insurance is an essential safeguard for a business against the loss of a key executive, director or specialist due to death, disability or critical illness. Key Person Insurance recognises the importance that particular individuals play in the well-being of a company. Key Person Insurance provides a variety of benefits, a combination of these will ensure maximum protection for an organisation:

Key Person Life Cover Benefit Key Person Living Assurance Benefit Key Person Total Permanent Disablement Benefit Key Person Disability Income Protection Benefit Waiver of Premium Benefit

Life, Living and TPD cover provides a lump sum. For details of the benefits provided see the Personal Insurance pages.

Key Person Disability Insurance provides a benefit of up to 100% of the value of the key person's remuneration package payable to the business for a period of up to 2 years.

Waiver of premium means that the Insurance company suspends premiums during a claim period reducing this cost.

In summary, Key Person Insurance solves the most difficult problem for a business - what to do if a key person is disabled for an unknown period of time.

First Name:
Last Name:
Company:
Date of Birth:
Smoker?
Key Person Cover Required:

Life:
Living:
TPD:
Disability Income Protection:

Email:
Phone:	* (optional field)
Fax:	*
Street Address 1:	*
Street Address 2:	*
City:	*
Postal Code:	*
Country:	*
I request a quote by:	Email Fax Phone Mail Personal Visit
Any other information you wish to provide:

Q & A

If you have questions you would like answered email us - here .

Q. How does one calculate the amount of life insurance for a Key Person?

There are three major risks to cover:

The direct costs of a temporary or permanent replacement The cost of recruitment and training The potential loss to the business due the experience, goodwill and relationships built by the Key Person.

We involve both company management and we suggest the company accountant, to assess the cash required to cover the above three risks. The total may not be the sum, but needs to be sufficient to keep the business solvent and profitable until a replacement is productive.

This may be determined by the banks or other guarantors demands for collateral life cover.