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Loss of a key employee

Protecting your business against the loss of a key employee

If your business depends on the knowledge and skills of key employees, Business Protection Term Assurance will pay out a lump sum if the person it covers dies or is diagnosed with a terminal illness during the term of the cover, with the option to include Critical Illness cover for added security.

The loss of a key person can be traumatic and that’s why we’ve teamed up with AIG to bring you a wide range of protection cover to protect what matters most. The cover is designed to help protect against the loss of profits a business may suffer due to a key employee dying or suffering a specified critical illness. The money under the cover could help with:

  • Recruitment costs: as well as providing money to be used to hire a replacement member of staff, it can also cover the interim costs if necessary for a contractor.
  • Business continuity cover: financial support, for example, to cover lost revenue.

Terminally ill means being diagnosed with a life expectancy of less than 12 months.

Insurance against such a loss has many advantages and can help:

  • Support your business financially
  • Cover the cost of recruitment and losses caused by business interruption
  • Maintain customer and staff confidence
  • Tailor the benefits to meet your needs and budget - choose different cover for individual employees

Our chosen partner AIG

This range of protection products is provided by AIG. They complement us perfectly, adding choice and value to our range of products and mirroring our commitment to outstanding customer service.