'Will the company survive
the death of a 'keyperson'?'

'Have you ensured your key people?'

The Company will normally insure the basic insurances but often fails to put in place the most important insurance- ‘Keyperson Insurance’.

Company Protection Checklist
Insuring the basics
Insure company cars
Insure stock
Insure office contents
Professional liability
Insure the keypeople in your business in the event of death and/or critical illness

Have you insured the Key People in Your Business?

  • If you lose the people who make your company ‘tick’ then your company may not ‘tick’ anymore.
  • Losing a Keyperson can inflict critical damage on a company.

Who is a Keyperson in your business?

  • Firstly you need to identify who a ‘key’ employee is in your business.
  • Do you have someone who has all your business technical expertise? Or maybe they are your in house accountant or top sales person?
  • There may be only one Keyperson but quite often there will be three or four even in a medium sized business.

What would happen if they die or suffer a critical illness?

  • Reduced sales
  • Loss of turnover
  • Can’t fulfill your orders
  • Difficulty in recruiting and/or training a replacement.

How Can Keyman Protection Help?

A Keyperson is insured for life and/or critical illness. In the event of a claim, the proceeds are paid directly to the company. This money could be used in several ways, for example:

  • Recruiting or training a replacement
  • Repay a business loan
  • Compensation for lost sales

How much cover do you need?

  • Our consultants will calculate the level of cover required and research the market to find the most cost effective solution.

Who takes out the policy?

The company takes out the policy on the life of the key person and the company, therefore, owns the policy.

Please contact IDFM on 0845 2706160 to discuss SIPPs or SSAS Alternatively email peter@idfmcity.com
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