Directors and employees with highly specialist skills or knowledge are key employees of the companies they work for. To lose one as a result of a critical illness or death can be damaging to the business. That is why taking out Key Person insurance to protect the company is a wise move.
Key Person insurances can provide several benefits. These can include:
The full scope of cover will depend on the type of policy purchased but companies ignore the risks of losing key staff at their peril. Shareholders, bank managers, suppliers and customers may not be so laid back.
If premiums are not maintained, then cover will lapse.
The policy may not cover all the definitions of a critical illness. For definitions please refer to the key features and policy document.
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Tax Planning is not regulated by the Financial Conduct Authority.
Clearwater Financial Planning Ltd is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority. Quilter Financial Services Limited and Quilter Mortgage Planning Limited are entered on the FCA register (https://register.fca.org.uk/s) under reference 440703 and 440718.
Clearwater Financial Planning is registered in England and Wales, No. 05764001. Registered Office: 56 Fore Street, Kingsbridge, Devon, TQ7 1NY.
The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
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