Keyman insurance minimizes business risk on death or disability. Owning and managing a business is not a task for the faint hearted. Risk and assurance issues are often overlooked such the death or disability of a key employee, and the death or disability of a shareholder.

Small businesses are often reliant on one or two key individuals. The loss of one through either death or disability would place significant financial pressure on the company. The purpose of Keyman insurance is to cover this scenario.

A Keyman insurance policy is usually owned by the company, on the life of an employee, with the proceeds being paid to the company in the event of the employee’s death or disability.