The Keyman Insurance enables a business entity or a company to buy a life insurance policy on the life of a significant and valuable employee(s) whose presence is crucial in the profitability, growth and survival of the business entity or company.
If creates a cost-effective funding scheme that provides a business entity with a lump sum cash to deal with the adverse consequences in the event that the significant and valuable employee(s) is diagnosed with a critical illness , total and permanent disability or death.
· To mitigate financial impact from the loss of the significant and valuable employee(s).
· To cushion a business entity against any cash flow problem from the loss of the significant and valuable employee(s).
· To provide a business entity with the money to recruit and train a suitable replacement.