Every organisation, no matter how big or small, has at least a few key members of staff that represent a massive part of the business. More often than not, these are your directors and CEOs, but it can just as easily be your top salesperson, a highly skilled software developer, a great project manager or a department head who helps keep everything together! The loss of team members like these isn’t just an inconvenience, it can have a massive impact on the business as a whole, which is why your business should look into key person insurance.
Keyperson insurance is a form of business insurance policy that means if nominated individuals fall critically ill or pass away, the company will receive a lump sum to cover any business losses caused by their absence. There are many companies who don’t have keyperson or key person insurance who are putting themselves at risk in case the worst were to happen. With access to policies and insurance quotes from some of the UK’s most highly-regarded and trusted insurers, including Aviva, Royal London, AXA, LV and Zurich, we can help you find a policy that makes sense for your business and gives you and your team the security you need to conduct business confidently.
What is Keyperson Insurance?
Keyperson or Key person insurance is a policy that ensures the business is protected if the company’s most valuable employees at any level – though it’s most commonly used for founders and directors – were to be unable to work due to injury, long-term disability or death.
There are several additional cover options available with keyperson insurance, such as income protection for nominated individuals (to help fund the salary and temporary replacement of a key person), as well as longer-term payouts in case a crucial staff member develops a long-term disability which means they are unable to work. To find out more about the options available to your business when it comes to taking out a keyperson insurance policy, get in touch with our team of expert brokers who will be able to take you through the process and make sure you get the most suitable policy for your company.
Get In Touch
At Avail Mortgage Brokers, we have access to a wide breadth of different keyperson insurance policies from top insurers. To find out whether keyperson insurance is right for you or to get keyperson insurance cover for your business, please don’t hesitate to contact our team of expert brokers on 01484 556 245 today. We serve clients in areas including York, Sheffield, Leeds, Bradford and Huddersfield, so are confident we could help you too.