Key Person
Key Person insurance provides a lump sum payment to the business if a ‘Key Person’ suffers from death, a life-threatening disease or permanent disability
A Key Person is someone whose knowledge, skills, experience, relationships or revenue generating ability are crucial to the company’s ongoing success.
What are the benefits to a business?
Key Person insurance serves several purposes outlined below.
- Financial Protection – The claim payout can be used to cover lost revenue and pay outstanding company debts.
- Business Continuity – Helps the business maintain continuity and stability in the face of sudden and adverse events.
- Recruitment and Training – The payout can cover costs associated with the recruiting and training of a suitable replacement.
- Shareholder Protection – It protects the interests of shareholders by assuring the business remains financially secure.
Examples of a Key Person:
Why choose PNOlife?
- Our clients tell us that we’re trustworthy and reliable. They value the process we take to educate them regarding the various covers that relate to their specific needs.
- Unlike some of our competitors that outsource the handling of claims, we meticulously manage all of our claims in-house to ensure the best advocacy for our clients.
- Our strong insurer relationships and industry knowledge provides you with competitive premiums, excellent underwriting outcomes and quality contracts to maximise your ability to claim.
- We implement regular policy reviews to ensure your coverage remains suitable for your evolving needs.
