Key Person Protection

As an employer, especially in a small to medium sized company, you will probably know what it is like to lose a member of staff, even for a short time.  The loss of a key person through death or critical illness could therefore have a huge impact on any business.

The following are just a few examples of individuals who could be key to a business:-

• The individual dealing with finance – either looking after the Bankers or the Company's investors
• The individual could have detailed knowledge of a specific product, or could have a specialist role within the business
• The individual may be involved in sales and generate a large proportion of the Company’s income

There are numerous other good reasons to protect a business against the loss of an individual, and S-Tech can help you to decide on the appropriate level of cover over the right period of time.

The selected policy is taken out on the life of the individual, but is owned by the business.  Any benefit is paid to the business in the event of a claim.

There are taxation issues with the premiums and benefits, and so it is always advisable to get advice at the early stages.

You are probably already insuring material items, such as company vehicles and computer equipment, and yet the loss to the business of a key individual is likely to create a far greater financial loss.

If you would like to discuss the insuring of key personnel, then please contact:-

Kevin Brown
kevinb@s-tech.co.uk
01223 445436

Or

Graham Sibley
grahams@s-tech.co.uk
01223 445468