Key person protection is a term used to describe the process of ensuring your company is financially secured in the event that a key director or employee falls seriously ill or passes away. The implications of the loss of a crucial staff member can be wide-ranging and may include a depletion of profits, a significant reduction in capacity, the loss of key clients and in some cases and the inability to offer a key product or service.
Selecting the Right Protection with Pareto
- We know that the consequences of losing a pivotal employee can be disastrous and are committed to helping you select the right protection for your company.
- Pareto’s independent status means were able to offer impartial advice on how best to fiscally cover yourself while your business recovers from the loss of a key staff member.
- By securing the right arrangements now, the company can focus its efforts on getting over the shock of the event, rather than desperately scrambling to mitigate the potential fallout.
Developing a Comprehensive Plan
Pareto is committed to getting to the bottom of your company’s specific needs and requirements developing a comprehensive plan at a competitive price. Just some of the things well take into account when crafting our recommendations include:
- The degree of financial security your company will need if it loses a vital employee
- The type of protection and level of cover you’ll require and whether this will be subject to change in the future
- Where and how your company would invest the lump sum payout.