KEYMAN LIFE INSURANCE
This product is beneficial to individuals whose business would suffer if a Key Person associated with it were to die or be disabled and unable to continue as an employee of the company. This service ensures that surviving individuals and/or partners can continue operating smoothly in the event of the death of a key member of the business. Under the terms of this policy, an insurance company pays out a lump sum to the business in the event of the insured person’s (e.g. proprietor, key specialist, or key manager) death or disability.
Benefits of Keyman Insurance Policies
The policy assists in overcoming emotional trauma
Helps smooth over financial problems that may result from the death of a key person. This ensures continuity within your business and ensures that clients, customers, and staff will not be left stranded
It assists you in continuing an effective management structure within the company.
A new Key Person will assist in executing plans as effectively as before.
In many cases, businesses have an important employee who is integral to their success and survival. This may be a proprietor’s right-hand man, a long-serving manager or another key individual whose loss could have severe consequences for the business.
A Key Person is insured for a specific Rand value. By having cash to replace the key individual, the business continues to run smoothly because there will be no disruptions caused by the death or disability of that key person.
How it Works
Our financial service provider partners can offer Key Man Insurance that will protect the business in the event of death or disability to a key person, whether by accident or illness
The size of the Key Man Insurance benefit is usually based on the profitability of the business. This ensures that following the death or disability of the insured person, your business can continue to run smoothly by having an uninterrupted cash flow
The cost of this type of policy is based on the demographics of the key person being insured.
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I.H.S. offers a variety of insurance-related services including:
Keyman Insurance Policies
This product is beneficial to individuals whose business would suffer if a Key Person associated with it were to die or be disabled and unable to continue as an employee of the company.
Buy-Sell Insurance Policies
This product enables business owners to protect themselves in the event of a change in ownership or partnership, as a result of the death, disability, or resignation of a shareholder.
Contingent Liability Policies
This product is purchased in the event of financing needed for the business. This could be as a result of expansion or purchasing of a large asset by the business. It could be also be necessary at the time of purchasing the entity.
What Our Clients Say About I.H.S
This is just a small sample of our clients’ testimonials! If you are interested in any of the business insurance packages that IHS offers, please contact us at 010 591 2492.
I.H.S. has provided business insurance for me and my partner's stores. Brian was very friendly and helpful! The good thing about I.H.S. is that they are fast, efficient, and reliable - I can always count on them to get the job done. They handle all of our insurance needs, which means we don't have to worry about a thing!
When I was looking for a business insurance broker to help me with my policy, I talked to several different firms. It quickly became clear that Brian at I.H.S. was the best choice. He has a huge amount of experience and knows what he is talking about - it's very easy to see why he is the best business insurance broker in South Africa.
I.H.S. has been a lifesaver for my business! When no other insurance broker could help me, Brian was able to provide me with a comprehensive policy that fully protects my business. I have a strong piece of mind knowing that if something were to happen, the business will move into its next chapter.