Key Man Insurance

The Risk

  • Key Man is a person who is a major driving force behind a business and who is so valuable in all areas of the business that his/ her absence could cause substantial loss to the company's earning capacity. A company can have more than one Key man.
  • The death of a Key Man could cause several types of losses to a business.

The Solution

  • The goal of Key Man insurance is to indemnify the company for such losses and to enable it to continue as before while the key man was alive and working. The beneficiary in such cases will be the company.

The Cover

  • The Premium can be paid annually, half yearly, quarterly, monthly or as a single payment.
  • The Sum Assured depends upon the Company's turnover, assets & profitability.
  • Key man may be required to undergo medicals depending upon the Sum Assured, Age & Term of the Plan.