This policy provides cover against the loss of profits or financial loss a company may suffer on the death of a key employee/senior executive that is critical to the continued existence of the company and whose death or incapacity would create a serious loss to the company. The policy pays a lump sum on death or critical illness of a Keyman during the term of the plan.

Benefits

• The proceeds could be used to buy out the shares from the deceased shareholder/partner.
• It provides lump sum payment on death or critical illness of a keyman during the term of the plan.
• It may be used to ensure that there are funds available to the remaining shareholder/partners, to buy the shares/interest from the deceased’s estate
• May be extended to cover named critical illnesses.
• You are eligible to take up this plan if you are under the age of 65.
• It repays the schedule outstanding loan if the assurance is connected to the loan procured by the key person.