Key Person Insurance

Protection when you loose biggest asset - your people

As a business owner, often you are the business but you may have other people around you who are equally important to the continued success of your business. We refer to these as key people or key person in the scenario in your business. What happens to your business if one of these key people is unable to work or dies?

Business insurance or trauma insurance of these people, also called as key person insurance doesn't have to be complicated. In many cases it is more important to keep the business running during a time when a key person is unable to work or dies. The key person may be an employee, a supplier or a business owner.

Trauma Insurance for key people can provide the funds to keep the business running in this time of need. This is where the concept of key person insurance plays an important role.

There are a couple of key questions when considering key person insurance:

  • Who are the key people in your business? Who is responsible for the generation of income or repaying debts in your business?
  • What is the purpose of the money? Is it to replace lost revenue in the business or to repay debts?
  • How much money would the business need? This is where professional advice can give you the edge in protecting your business and provide you with a suitable solution.

Your Risk Advisor

At McKenzie Ross we tailor the key person insurance advice to meet your individual needs. We deal with all the major life insurance companies in Australia and can find you the best deal for your current situation.

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PROFESSIONAL INDEMNITY INSURANCE

No matter your experience or qualifications we are all likely to make a mistake or deal with a client who believes you have made one.Professional Indemnity insurance provides comprehensive protection from claims for financial loss, bodily injury or property damage arising from the performance of your professional services.

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