As a business owner or director your staff are your lifeline and without them most business owners would agree that they would struggle.

This is especially true if they were to lose a key man or key person from their team due to that team member dying or becoming ill and unable to work.

Fortunately there are ways to protect businesses against problems like these using insurance policies such as key man insurance or business life insurance and executive income protection policies.

Key man insurance (or key person insurance) is a life insurance policy designed to protect your business from the loss of a key member of your team through death.

The policy is taken out on an individual but instead of making a payout to the individuals family if they die, a payout is made to the business to allow it to source new staff or outsource the work as the business requires.

The aim overall is to protect the business from the extra expense of replacing the knowledge and skills lost through the death of your key man.

The insurance can also be used to cover a shareholders stake in the business or to cover business loans and mortgages much like you would do to protect the mortgage over your home.

Protecting the business you worked hard to build is vitally important to any business owner and by using key man insurance you can ensure that your business is properly protected against the perils of human illness.

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testimonial"We approached Terry at Atlantic Financial Services about our company pension scheme a number of years ago and he provided a much improved offer for our employees. The complex area of pensions was and continues to be clearly explained to all involved. We would highly recommend the service and attention to detail we received."

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