Keyman Insurance
"Safeguard Your Business's Future with Keyman Insurance"
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About KI – Keyman Insurance
- What is KI? (Click on Every points should be get breif explanation as below mentioned Contents)
- Basic Coverages.
- Add On Coverages.
- Claim Process Support.
- Free Consultation for the PLI Product.
What is KI?
Key person insurance also known as key man insurance, is a type of life insurance policy that a company purchases on the life of an owner, a top executive, or another individual considered critical to the business. The purpose of key person insurance is to provide financial protection to the company in case the sudden loss of a specific individual would significantly impact its operations.
Basic Coverages
- Death Benefit: The policy pays out a death benefit to the business, not individual beneficiaries
- Profits Protection: It can offset lost income due to sales decline or project delays caused by the key person’s absence.
- Shareholder/Partnership Interests: Protects shareholders’ or partners’ interests in the business.
Add On Coverages
- Disability Coverage: In addition to life insurance, key person insurance is available as disability coverage if the individual becomes incapacitated and unable to work.