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With over five decades of experience in helping our clients save for the future, we have a thorough understanding of the market and the importance of your money.

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Professional investment advice can only have your best interests at heart when it’s truly independent. At KGJ, our only focus and loyalty is to you, the client.

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As a proud and long-established family firm, we understand how vital planning for the future and ‘saving for a rainy day’ is to the financial wellbeing of our clients.

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What is Key Person Insurance?

Key person insurance, sometimes known as key man insurance, is a type of commercial life insurance that provides coverage for the loss of a key person in a business. Key person insurance policies typically cover the financial impact of the death or incapacity of a key employee, such as a founder, CEO or other essential team member.

The purpose of key person insurance is to help protect a business from the financial impact of losing a vital employee. If a key employee were to die or become incapacitated, the business could face significant financial losses, such as lost revenue, increased expenses or the cost of finding and training a replacement. Key person insurance, therefore, provides a lump sum payment to the business in the event of the death or incapacity of the key employee, helping to mitigate the financial impact and providing funds to cover expenses and maintain operations.

Key person insurance can provide peace of mind and financial protection for businesses that rely on key employees, helping to mitigate the costs of unexpected events and providing reassurance that they are covered in the event of their loss. It is especially important for small- and medium-sized businesses, where the loss of a key employee can have a significant impact on operations and the bottom line.

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Why Choose KGJ for Key Person Insurance?

Preparing for the unexpected, particularly when it involves the potential loss of a vital part of a team, is never a particularly pleasant thing to do. Many businesses start as small entrepreneurial ventures that expand and grow over time and rely heavily on their founders and directors to guide the company and keep it ahead of the competition. This means losing a key, high-level team member can have a significant, maybe even devastating effect on the operations of the business. Key person insurance provides the funds needed to help the business recover.

KGJ fully understands the importance of protecting a business against the loss of a key person. We work with many businesses that turned to KGJ to provide competently advised solutions to their key person insurance needs. By working closely with each business, we work hard to find a bespoke key person policy for each client. As a proudly independent insurance broker, we have the experience to steer you away from off-the-shelf solutions that are often filled with exceptions and exclusions and instead will use our hard-won industry contacts to create a key person insurance policy that is robust and fit for purpose.

Ready for a chat? Get in touch to speak to the experts about your key person insurance needs.

KGJ Office in Stourbridge

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