Most Businesses have an individual who is key to the success and profitability of the business, a ‘Key Person’. The death or critical illness of a key person can financially impact your business in the following ways:
- The costs of recruiting and training a replacement
- A loss of sales and new contracts
- A loss of confidence in the business
- Additional pressure on senior personnel covering the key person, possibly causing some staff to leave.
Key person protection can provide funds to help your business cover the financial impact of the death or critical illness of your key person. These funds would yours to use, as you consider appropriate, for the benefit of your business.
One of the keys to successful protection planning is to regularly review all your protection.
At AIC Financial we offer regular reviews to ensure your current protection arrangements are suitable to your needs and are competitive in cover and cost. We annually check your cover to ensure that your needs have not changed along with. We could also save you money! Please contact us for your free initial, no obligation Protection review using the link below.