- Mon - Sun: 8:00am - 8:00pm
Relax, our advice is free
What Happens to Your Business If You Lose a Key Person?
You've built something valuable. Your business relies on certain people — maybe that's you, a co-founder, your top salesperson, or the technical expert who holds everything together.
But have you thought about what happens if one of those people suddenly couldn't work?
If they were seriously ill, or worse? The bank still wants their payments. Clients still expect delivery. Staff still need paying. And you'd be trying to hold it all together while dealing with a significant loss.
Many business owners recognise they should consider key man insurance. But when you look into it, you're faced with questions: How much cover do you need? What type of policy? What counts as a "key person" anyway?
You just want to know: if something happens to someone critical, will my business be protected?
We work with business owners to help them understand and arrange key person protection.
We can help you:
• Help calculate an appropriate level of cover based on your financial circumstances
• Search the market for competitive quotes from insurers who specialise in business protection
• Handle most of the paperwork so you can get back to running your business
We'll make sure you understand exactly what you'd be covered for and how the policy would work if you needed to claim.
A key person is anyone within the company whose absence would make a critical difference to its continued success or survival. This is often the owner or directors but could also include key employees who have a pivotal role within the firm.
The key person insurance policy is taken out by the business and is therefore ‘owned’ by the business. The business also benefits from any pay-out.
What People Think About BMG
Please call us using the telephone numbers below. Alternatively please use the contact form and we will get back to you as soon as possible.
