• Protect your company from the loss of a Key Person
• Provide funds to recruit a replacement
• Pay off creditors on other liabilities

Within every business there is at least one key person who the business depends upon. This may be the managing director, a salesman or the chief project manager. These people are often very difficult to replace when losing them through a critical illness or even death. Their absence from the workplace can often have a devastating effect with orders lost and even a possible loss of confidence from creditors and bankers.

Key Person Insurance allows you to safeguard your company by ensuring that your company receives a cash lump sum if something happens. This could be used to:

• Buy time to restructure the business
• Replace lost expertise
• Seek new alliances
• Strengthen your balance sheet
• Improve cashflow
• Create security among other directors, partners, bankers and creditors
• Settle liabilities such as VAT and Income tax
• Pay off creditors

At Forum Wealth Management, we can advise on which will be the most suitable policy for you and your key members of staff.