Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.
Business Protection
Business protection is all about insuring for the unexpected. It's a way of protecting your business if something goes wrong.
The Financial Conduct Authority do not regulate on tax planning, estate planning and inheritance tax planning.
One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.
In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder
UK News
The government has been urged to "act fast" to protect hundreds of jobs following the cyber attack.
A report from Policy in Practice says awareness, complexity and stigma are the main barriers stopping people claiming.
Its decision comes as the industry says there is a lack of government investment and as the US pressures firms to invest there.
The economy failed to grow following the biggest contraction in manufacturing output for a year.
Media and some protesters gather at the airport as more than 300 workers detained in the US last week return.