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Key Person Insurance

 

A key person may be a business owner or principal, manager or sale executive. These individuals can be important for the business either because of the revenue they generate or for the capital cost of re-training or replacement. Key person insurance was designed and is intended to protect a business if a key person is lost.

 

Key person insurance considers the following questions:

 

  • If X were to (die, disable, trauma), what would the effect on revenue and profit be?

 

  • If X were to (die, disable, trauma), would the business need to stop/cease/hire/train?

 

Key person is an important business consideration as it can protect you in two key ways:

 

1. Revenue Protection - which covers things like potential loss of income, and premiums which may be tax deductible.

 

2. Capital Protection - replaces companies' loss of capital or repayment of debt and loss of goodwill.

 

 

Our dedicated team can assist you with queries relating to matters involving Key Person Insurance. Complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.