Who’s the life and soul of your business? If you can name them, you probably need Key Person Insurance…
Most organisations employ at least one person who is critical to the future success of the enterprise - be it the original founder, a rainmaker, shareholder or some other “Key Person” with a particular skill or expertise. Key Person insurance protects you against the financial consequences of losing key staff members.
Issues to ponder….
Key Person Insurance provides a cash injection (either as a lump sum or as a flow of income) to your business if a key person dies or suffers a serious illness, allowing the business to continue trading at a time of considerable uncertainty and financial pressure.
Key person Insurance can cost as little as...
|40||5 Years||£ 250,000.00||Life Only||£14.59|
|40||5 Years||£ 250,000.00||Life or Critical Illness||£70.74|
|45||5 Years||£ 250,000.00||Life Only||£19.60|
|45||5 Years||£ 250,000.00||Life or Critical Illness||£104.58|
|45||5 Years||£ 500,000.00||Life Only||£35.74|
|45||5 Years||£ 500,000.00||Life or Critical Illness||£206.76|
|45||10 Years||£ 250,000.00||Life Only||£41.69|
|45||10 Years||£ 250,000.00||Life or Critical Illness||£248.53|
*based on a fit & healthy person
Among other things, Key Person Insurance can cover:
Already have protection in place? Great, but when was this last reviewed..?
Both your business and the economic situation have probably changed significantly in the past couple of years, meaning that the protection you put in place may now not reflect your business going forward.
George, La Playa business client
Specialist & Independent
La Playa's specialist Mediatech team can help you protect your business with smart, flexible, high-performance insurance - with a friendly human UI. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your organisation. Our exclusive portfolio policies can help streamline costs, and we’ll always help you stay ahead of the game in managing risk.
We also offer Business Protection (including Key Person Insurance) and Employee Benefits: a joined up approach with a team of advisers working for your best financial interests - all under one roof
Advice You Can Trust
…from an expert who understands you
Tech-based business is 24/7, global and borderless, exposing you to new risks and liabilities - often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.