The concept of "key man insurance
" (payable in the event of death of a key person in a business) has evolved to some extent because of these risks - the thinking being that problems tend to become more manageable if there is cash available.
He also said that the hosting duo's management company previousy told them to consider key man insurance
- which is an insurance policy between business partners to cover one if something were to happen to the other.
(The key man insurance
remains in place, just in case one of the founders dies before the ownership transfer is complete.)
Do you have key man insurance
in case something happens?" Stop talking.
It also features flexible repayment terms and Key Man Insurance
Since we are discussing commercial banking, it would have to be the NBF Business Loan, a collateral-free financing arrangement that provides access to up to AED 1 million in funding and comes with flexible repayment terms and Key Man Insurance
. This is just one in a growing suite of tailor-made solutions reaffirming our commitment to our clients' success.
Key Man Insurance
: Requires that, while the loan is in place, a certain dollar amount of life insurance be maintained on the life of a key person or persons that work in the business.
Discussing such a policy with an independent financial adviser is important with key man insurance
to ensure that the right amount of life cover is put in place using the most suitable policy.
Reflecting on the expansion of the team, Richard Phelps, Head of Barclays Corporate & Employer Solutions said: The Corporate Wealth Advisory unit was launched earlier this year to support entrepreneurs and SMEs to manage the risks relating to the people aspect of their businesses, whether that be through loan protection, key man insurance
or shareholder protection.
The Adamses realize that they may have to add new provisions including key man insurance
, which provides business owners with funds to hire a replacement, pay off debt, or buy time until the business assets can be liquidated and the business closed should one of the owners die.
Primary areas of expertise include term life insurance, universal life insurance, in-force policy reviews, insurance for tough health risks, business life insurance including key man insurance
, business succession planning, disability income insurance and estate planning.
Companies can also opt for key man insurance
against the death of a key partner, employee or manager whose skills draw in a major chunk of the revenue.