Research has shown that though almost all businesses feel they have at least one key person and their premature death, serious illness or disability would impact seriously on the business ( with at least half feeling it could close them down for good) almost three quarters of them did not have any cover!

Losing a key employee is not only a personal tragedy it can translate into business failure. Without adequate and properly arranged cover most businesses, at the very least, face performance decline resulting in financial problems. 

What is a keyman: a vitally important person to the business. It could be someone that has all the technical expertise, a specialist consultant or key practitioner, your in-house practice manager and obviously there is yourself.

Whoever it is we will help you identify them and quantify the amount needed to cover their value, taking into consideration factors like reduced turnover, loss of profit, interruption in patient care, loan repayments and the time, money and resources needed to source, recruit and train a replacement. An obvious example is the need for a Locum when a GP practice doctor is unable to work.

A Keyman Protection Policy is an insurance policy taken out by the business on the life of the key person whereby in the event of a claim the business would benefit directly from the proceeds to help mitigate these, and any other, business costs budgeted for.

Here at Premier Medical UK one of our Corporate Financial Consultants can advise on the most effective and efficient way to arrange and set up the cover for the business and the individual, with regard to ownership and tax for example. Plus as professional advisers we will review the cover with you, on a pre agreed basis, to ensure the cover continues to be adequate and appropriate for your needs.

To make sure your businesses most valuable assets are protected adequately please ring us on 0845-6756749 or clicking here to have one of our consultants discuss your requirements and provide you with a no obligation quote.