There are Key Employees who significantly influence the profits for you. Protect these profits now!
Your business is mostly dependent on the success of your key employees. A sudden loss of any of these key employees could pose a significant financial impact on your business.
Keyman insurance helps to manage these risks and ensures the company has sufficient funds to keep the business going in the short term before a successor takes charge.
- Keyman insurance is taken by a business for its own benefit. All the premiums are paid by the business & the business is eligible for all the policy proceedings
- A keyman is a person whose talent, contacts, goodwill etc a business is thriving on
- The key persons can be chief executive, key employee, directors, project specialists, operations head etc
- Any pure term insurance plan can be bought under Key person insurance
- The premium paid towards Key Person Insurance or Keyman Insurance is treated as a valid business expense