Key Person Insurance

What is Key Person Insurance?

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In most businesses, people are the main asset.  They have all the ideas and knowledge and directly generate the company revenue.  Without key people the business may have no value.  A "key person" can be anyone within the business, not necessarily the owner.  Losing a shareholder, or even a junior employee, can lead to a significant drop in profits.


Losing a key person could mean:

  • Being unable to continue operating;

  • Losing clients or damaging client relationships which can reduce revenue;

  • Losing knowledge such as ideas for revenue, or internal operating method;

  • the cost and difficulty of finding a suitable replacement;

  • lowering of staff morale leading to lower productivity; and 

  • being unable to meet contractual arrangements which may incur penalties.


The potential for problems is almost limitless.  An accident may incapacitate a person temporarily or leave them with permanent disabilities.  Even if a key person has a partial disability it can be catastrophic for the business.

PHONE: 09 373 0700

FAX: 09 373 0706



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