At Aldermont Group we utilise our specialist insurance knowledge to advise companies and aim to help mitigate the effects of losing a key person, partner or shareholder.
We can never be sure what might happen tomorrow, next week, or a year from now. Businesses do all they can to minimise the effects of unforeseen events. The loss of an employee to illness or death is never easy. The loss of a key person adds another layer of difficulty; business is disrupted and finding a replacement may take time and resources.
Key Person Insurance
When you think about protecting your business it’s important to think about people who could have a significant impact on the company if they’re no longer able to work or have passed away.
Key Person cover helps to protect your business if one of these people die or become seriously ill, by paying out a lump sum to the company. This payment helps to ensure business continuity, maintain profits, and recruit a replacement for the role. Key person cover is also there for you if you are a Sole Trader. It can support you for as long as you need and preserve your business, so that it can keep going if you fall ill.
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