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Keyman Insurance
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 death 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.
Who is the Keyman?
The Ultimate All-in-One Protection Plan
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
Pays out a cash sum to buy out the deceased or incapacitated director’s or partner’s shareholding
Cover Benefits
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Immediate Cash Injection
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Profit Protection
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Temporary Staffing
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Recruitment Costs
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Debt Repayment
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Share Purchase
Documents required for Onboarding
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Executed scheme 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
Frequently Asked Questions
? What is Keyman Insurance and how does it work in Kenya?
Keyman insurance is a life policy taken by businesses to financially protect against the loss of a key employee or executive.
? Who qualifies for Keyman Insurance coverage?
Individuals crucial to profit generation and operations—such as CEOs, CFOs, founders, and sales leaders—can be covered.
? How much Keyman Insurance does a company need?
The coverage amount depends on the individual’s contribution to revenue, profit, or operations and can be tailored accordingly.
? What is the difference between Keyman Insurance and Group Life Insurance?
Keyman Insurance covers a specific critical employee, while Group Life covers all employees under one policy.
Customer Downloads
Keyman Insurance Proposal Form
Need Help Choosing the
Right Cover?
Our insurance experts are ready to guide you through your options and help you find the protection that fits your needs.