Why worry about insuring a key person within the business?
Research carried out by Legal & General in 2011 found that 95% of businesses had at least 1 key individual, and 39% of business owners said their businesses would fold within 18 months of the death or serious illness of a key person.
What is key person cover?
Quite simply, this is a type of protection cover set up by a business to provide it with a lump sum (or regular payments) on the insured key person suffering a serious illness, dying, or being unable to work for a length of time.
For more information on Key Person Cover, download our free guide