Who needs key person insurance?
Key person insurance protects a company from the loss of a key person within the organisation. These are the people who are central to the running of the business.
In a small business, this could be for example the founders or the company partners. For large organisations the loss of a key person can often mean profitability is affected, and therefore this insurance helps cover this loss.
Both small and large companies can consider key person insurance to protect their business interests.