Keyman Insurance is a specialized type of life insurance taken out by a business on the life of a key employee or employees. It is designed to financially protect the business against the loss of key personnel who are crucial to the company’s success and profitability.
Keyman Insurance is a strategic necessity for forward-thinking businesses. It ensures preparedness for unforeseen events, safeguarding operations and maintaining financial stability.
A Keyman is any individual critical to your company’s success and profit generation, including:
• Executive Roles: Executive Chairman, Managing Director, CEO
• Sales and Marketing Heads: Revenue-driving professional
• IT and Finance Directors: Essential for operational success
• Product Development Heads: Crucial for innovation and growth
Types of Keyman Insurance
Profit Protection
Provides a cash sum to maintain profits and cover training and recruitment costs
Corporate Loan and Overdraft Protection
Allocates funds for repaying company debt, particularly crucial for directors with personal guarantees or second mortgages
Ownership Protection
Cover Benefits
Immediate Cash Injection
Profit Protection
Temporary Staffing
Recruitment Costs
Debt Repayment
Share Purchase
Documents required for Onboarding
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Executed proposal form
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Copy of certificate of incorporation/registration
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Copy of KRA PIN
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Copy of the CR12
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Copy of ID/Passport
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Proof of Keymanship