A Guide To Key Person Cover

Key person cover, often referred to as Key Man Insurance, is designed to protect your business in the event of the loss of an individual within your business who is fundamentally important to the sucess of the company. It is often best explained by asking some key questions such as;

How well would your business cope if you lost a key member of staff to death or critical illness? Would it hit your turnover targets? Would you lose clients? What would the impact on your profit be?

These are some of the questions we ask when looking at how crucial Key person cover could be for a business. It’s all too easy to focus on the death or illness of the business owners, but as we all know, staff are vital to success and some become ‘key’ to the business.
There are simple plans that can be put in place to ensure that if the worst happens to a key member of the team, that the business has the right money, at the right time to weather the storm. Get in touch with our team for more information.

Testimonial

Following on from an eye opening discussion with Duncan Hodgson of Purely Business Protection we decided it would be prudent to get some key man insurance in place for our manufacturing firm. Sadly two years later we lost our Co-Director to illness but the cover put in place by Duncan ensured that the business could continue as would have been his wish.

So glad we took the time to discuss this with Purley, if we hadn't we would have had to deal with a huge headache at an already very difficult time.

Highly recommended.

Steve Blakeworth YT Manufacturing - March 23
Purely Business Protection

Get In Touch

Purely Business Protection was developed from our parent company Purely Financial Planning, a specialist mortgage and protection advisors, our companies are built on the foundation of an intimate personal service, no corporate stuffiness and we welcome you to pick up the phone to us to learn more.

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