Businesses may want to protect the key employees within their firm – perhaps
the key salesperson, or the IT manager without whom the business will not
function properly. Keyperson protection can provide a fixed sum should the
individual be unable work, or even die. The benefit will be designed to
cover the firm’s expenses in meeting any emergency costs, recruiting a
replacement employee and protecting the future of the business.
Similarly, if a key shareholder was to pass away, the firms remaining
shareholders or directors may want to purchase the deceased’s shares from
their estate promptly to maintain control of their business.
