INSURANCE

Things happen when you least expect it...

This type of service is on a referral basis only.

 

When a key person in a business dies it can have a devastating financial effect. You can help safeguard your business against the death, terminal or critical illness of a key person with key person protection.

What is Key Person Protection?

Put simply, Key Person Protection (also known as key man insurance or key person insurance) is a business insuring itself against the financial loss it would suffer if a key person in their business died or were diagnosed with a specified critical illness if chosen, during the length of the policy. It also pays out if the key person is terminally ill and meet our definition, except in the last 12 months of the policy.

How does Key Person Protection Work?

Key Person Protection is a life assurance or life assurance and critical illness cover policy taken out to cover the life of a key person within your business. The policy is owned and paid for by the employer, so any pay out is payable to the employer.

Why do I need Key Person Protection?

The loss of a key person in your business could have a severe impact. The business could suffer badly, with sales and profits falling and increased workloads for the remaining staff.

Key Person Protection is designed to pay out a lump sum on the death of the insured key person, during the length of the policy. It is paid as a lump sum and could significantly help the business to recover. The proceeds can be used to help replace lost profit or finding and hiring a replacement.

LET'S TALK!

 

Visit

2 The Landings, Burton Waters, Lincoln, LN1 2TU

Call

T: 01522 538333

® 2019 by XPRESSION

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Your home may be repossessed if you do not keep up repayments on your mortgage. 

 

Officially Protected is a trading name of The Official Mortgage Company Ltd of No 2 The Landings, Burton Waters, Lincoln, LN1 2TU which is authorised and regulated by the Financial Conduct Authority.  Our Financial Services Register number is 810956.

 

​Registered Office:. Brunswick House, 86-88 Carholme Road, Lincoln, Lincolnshire, England, LN1 1SP.  Registered in England and Wales. Registered Company Number: 09614654.  Registered in England & Wales.