- Maximum Protection at an affordable cost
- Long-term renewability
- Hassle-free conversion
As a business owner, you have to protect your business against risks such as losing a key employee. When you rely on key employees for the success of your business, what happens when you lose one?
Benefits of key employee protection
Protect your business from losses due to the untimely death of a key employee
Is there a key employee in your business who, in the event of their untimely death, can create a major disruption that can be very costly for the business?
Every business has key players who drive growth and success. Planning for what you’d do without them is an important part of a business continuation strategy – whether you’re just starting out or already expanding operations.
Our Solution
Sun Safer Life
Also highly recommended for key person insurance
SUN Smarter Life Classic
- Double Insurance Coverage
- Lifetime Protection
- Guaranteed Cash Value & Dividend Earnings
Sun MaxiLink Prime / Sun MaxiLink Bright / Sun MaxiLink 100
- Insurance with Investment component
- Offers potential gains over time
- Flexible investment options
Notes:
- Benefits indicated above are subject to contestability provisions, exclusions and/or provisions on pre-existing conditions, specific guidelines set by Sun Life and the actual provisions of the insurance policy contract.
- Dividend earnings are not guaranteed.
Identify your Key People
- Unique and expert knowledge or skills that could not be completely transferred to another employee
- Exclusive network and relationships with partners you do business with (e.g. suppliers, investors, creditors, brokers, etc.)
Should this key employee pass away, the business will suffer some financial losses related to:
- Sourcing & training a replacement
- The learning curve of the replacement
- Rebuilding relationships with key partners of the business
With key person insurance, you can transfer the risk of losing a key employee. The life insurance proceeds can help ensure there is liquid capital to allow the company to pay off creditors and cover the cost to the business of the key person’s loss. The availability of cash, along with a sound transition plan can help reassure employees, creditors, suppliers, and customers.