Is this you?
A single person drives most of your sales or key client relationships.
A founder or director holds knowledge the business could not quickly replace.
A lender or investor expects key people to be insured as a condition of funding.
You want funds to recruit and cover lost revenue during a difficult period.
How Verion helps
We help you identify who is genuinely key and estimate the financial impact of losing them.
We size cover to the likely loss of profit and the cost of finding a replacement.
We arrange cover through providers on our panel, owned by the business, so any payout supports the company.
We set out the general tax position and recommend you confirm the detail with your accountant.
The process
Identify
We work out which individuals the business truly depends on and why.
Quantify
We estimate the revenue and recruitment cost at risk if that person is lost.
Recommend
A clear recommendation with the cover level, the ownership and the cost.
Implement
We arrange the policy in the company's name and review it as the business grows.
Things worth knowing
The business owns the policy and receives any payout, so the funds are there when the company needs them.
The tax treatment of premiums and any payout depends on the arrangement. Confirm it with your accountant.
Cover should be reviewed as the business grows, because the loss it needs to protect against changes.
Key Person cover protects the business. It is separate from cover that protects an owner's family or their stake.