Keyman Insurance is a life policy taken out by a company on the life of one of its employees or directors with a view to compensating the company for an anticipated financial loss in the event of the death of the individual covered. The key man insurance policy can also provide a lump sum, paid in the event of the serious/critical illness of that key individual to ensure the continued survival of the business.
In companies, particularly SMEs, there can be an individual(s) that are crucial, or key to the success of the company. If the company was to lose this individual(s) to death or illness, it could endanger the entire organisation. The best solution to this problem is to take out Keyman cover on this person.
If the worst was to happen, the policy would provide the financial means to help the company recover from the loss. A company that loses a key person can suffer a loss of revenue, expertise and bear the cost of hiring and training a new suitable employee. Keyman insurance is the way to protect the company from these pitfalls.
Travers & Co Insurances Ltd deliver the best quotes in Ireland. We ensure you get the best quote at the best price available. We have over 40+ years of experience that ensures we get the best Keyman insurance deal for you.
Please click here for an Keyman policy quote or call us now to speak to our expert customer service team in Wicklow.
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