Protect your business with Key Person
& Critical Illness insurance
Key Person and Critical Illness insurance is a smart way to protect your business from financial strain if a key team member dies, falls ill, or develops a disability. It covers costs like hiring and training, lost profits, and anything you might need to continue operations. Let’s go into more detail…
What is Key Person and Critical Illness insurance?
Key Person and Critical Illness insurance are two pillars of protection that combine to safeguard your business and key team members when they can’t work.
Why do I need Key Person and Critical Illness insurance?
The heart of any successful business is its people. At the core of your venture are the brilliant minds whose expertise and leadership make what you do possible. Key Person and Critical Illness insurance is the strategic shield should any of them be unable to work.
To put it simply: life’s uncertainties should never jeopardise the foundation you’ve worked so hard to build. Luckily, with the right Key Person and Critical Illness insurance in place, you’ll have stability and support – no matter what comes your way.
What does Key Person and Critical Illness insurance cover?
Key Person and Critical Illness insurance isn’t just about securing individuals, it’s about securing the future success of your business. Beyond ensuring financial stability, it allows you to continue operating with confidence by typically including:
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Personnel protection
Ensures a smooth transition in the face of unexpected key team member departures
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Medical expenses/Income protection
Provides a tax-free lump sum to employees facing a critical illness
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Group critical illness support
Coverage for a core group of 10-15 illnesses including cancer, heart attacks, and strokes
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Loan repayment support
Assists in repaying outstanding loans in the absence of a key team member
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Operational continuity
Seamlessly maintains your day-to-day operations by offsetting the financial impact of a key person’s absence
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Strategic planning
Signals to stakeholders that you are proactive in managing risks, keeping confidence intact
Picture This...
Your augmented reality software is taking the gaming and entertainment industry by storm. A coding expert leads your project and mentors your software development team. But when something happens to them, you’re left with a void that no one else can fill – grinding progress to a halt while important deadlines loom.
A call with your insurer gets things moving again, providing funds to cover the cost of training and hiring a replacement, and ensuring that your business doesn’t stall indefinitely.
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Contact us
Take your next step.
If you’re interested in how we can help or just want to introduce yourself, get in touch. We’re always happy to talk. Alternatively you can book a meeting with one of the team using the Capsule Calendar.