insurance is expected to give peace of mind to a corporation that can ill afford to lose top executives.
life insurance protection can be structured from any type of policy.
The key person
insurance is the alternative to forcing the company to pay out a large sum of capital that is depended upon or critical to the business's function.
Many business owners not only fail to identify and evaluate the potential risks their companies face, but are also unaware of the importance of a policy such as key person
insurance or do not even know such a policy exists.
The loss of a key person
can cause a business to be hit by a loss of profit, reduced sales, recruitment/training costs and disruption to their plans, to name but a few potential problems.
insurance and an up-to-date and funded partnership agreement are just a couple of techniques to ensure business continuity after the loss or disability of an owner or key person
A company owned a key person
policy with several million in face value.
However, only one in four business owners--24 percent--has an individual disability insurance (IDI) policy, fewer than one in 10 (9 percent) of business owners have key person
disability insurance, and fewer than one in 20 (4 percent) have a disability overhead expense plan in place.
The issue was most pronounced amongst small traders and partnerships, with 80 per cent of the former and 49 per cent of the latter saying that they would not survive the loss of a key person
Many Macedonian newspapers treated this topic sporadically, always insinuating the then-Albanian government representatives with the mentioning of Musa Xhaferi as the key person
in the rebranding of the telecommunication company.
It affects the ability to continue the business, and the ability to borrow money could be compromised if there's a death with a key person
He was assigned key responsibility of training 10 selected cadres in Hindi and was perhaps the key person
who briefed the 10 terrorists including Ajmal Kasab.