Key Person Cover 


Key Person Cover is one of three broad elements of BUSINESS INSURANCE.  The others are Buy Sell or Succession Planning  and Debt Cancellation / Guarantor Protection


Who are the key personnel in your business?  

A key person has particular skills, qualifications,  knowledge or contacts that are critical to the ongoing success of a business.    The loss of a key person can be measured in declining revenue and sometimes also a drop in capital value of the business. 


How can insurance help?

Calculate the potential loss of sales, value of major contracts or loss of expertise if the key person was suddenly absent.  Add the cost of finding a replacement and remunerating a replacement until they are up to speed.  In broad terms this is the total value of the loss to the organisation and this is often the amount that should be insured on the life of the key person.


By using the same types of insurance already outlined, i.e. death, total & permanent disablement and trauma conditions you can make the protection as basic or as comprehensive as you need.   Your business will be protected in a broader range of situations if you choose the most comprehensive cover available.


What next?

Need some help working out how much and what type?  No worries – that’s what we do best.  We have tonnes of experience analysing businesses and calculating appropriate amounts for your situation and tailoring the cover to suit both the business and your budget.



 This information (including taxation) is general in nature and does not consider your individual circumstances or needs.  Always seek professional advice before making a decision and consider a Product Disclosure Statement. Information is for Australian residents only.  Anita Muecke trading as AVA Insurance Consulting Group is an Authorised Representative of Lifespan Financial Services AFSL 229892. To view contact details & Financial Services Guide please click here and Lifespan Privacy Policy please click here.




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