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Key Person Insurance
The death of a key employee could have a devastating effect on the profits of a company. It is estimated that only 5% of UK companies have taken out this type of cover. Key persons can be:
Directors,
An employee with specialised knowledge essential to the firm.
This policy would be effected by the company, on the life of the key person for the period that this person occupies that position within the company. The period could be either until retirement, or to the end of a particular project or job.
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