Key Person Insurance

Would your business suffer financially if a key person had to be replaced due to death, permanent disability or major illness? Would your company require funds to source, relocate and train a replacement? Replace lost revenue? Or pay off business loan?

Key Person Insurance cover provides a lump sum payment to a company in the event the principal, or another key person dies, is permanently disabled or is diagnosed with a critical illness such as cancer, heart attack or stroke.

The lump sum is usually used for either capital purposes, such as repaying a loan, or revenue purposes, that is to provide funds to replace lost revenue as a result of death or disablement of a key person. Each has different tax treatment.

If you feel there is a key person in your business contact us today on 1800 000 001 for quotations and advice.