The loss of an owner or a key personnel whose contributions are integral for a business’ success can be devastating. It can result in a drastic loss of profit, customer base and even reputation. Protecting your business against such risks is often a prudent step toward business continuity, while addressing the concerns of your key stakeholders.
Key Man Insurance is a policy taken by an employer to mitigate financial losses in the event of a loss of key individual, whether it is the owner, important senior executive or a key contributor whose knowledge, work, or overall contribution is considered uniquely valuable to the business. Although it does not indemnify actual losses, it can provide a valuable cash relief for any loss and costs for identifying a suitable replacement.
Here are some of the reasons why many businesses choose Manulife Key Person Insurance:
Wide spectrum of plan choice to suit different business needs and budgets
Professional service from Manulife that caters to your every key person’s need