Key people are those individuals whose leadership, specific skills, knowledge or experience contribute to the continued financial success of a business.

This might be the chairman, managing director, financial director, or employees with specialist skills. It could be anyone whose death or critical illness may lead to financial loss for the business.

Key Person Protection will provide your business with a cash injection to help it recover from the loss of profits, covering costs such as recruiting and training of a replacement employee.

Generally, most SME businesses are dependant on a small number of key individuals. The loss of one of a key person could have a dramatic effect on the future success of the business.

At Applescott Insurance, we work with a selection of insurers who are able to provide a range of options to help protect your business against such a loss:

Life Insurance

A lump-sum payment should the key person die or become terminally ill during the term of the cover.

Critical Illness Cover

A lump sum payment should the key person be diagnosed with a defined critical illness during the term of the cover.

Life and Critical Illness Cover

A lump sum payment should the key person die, become terminally ill, or suffer a defined critical illness during the term of the cover.

Keyman Income Protection

A monthly income should the key individual become unable to undertake their role due to illness or injury during the term of the cover.