Protect your key men

Unfortunately, that’s where the thinking of many directors ends – pay enough money and we will get the best people. Few stop to consider what happens to the business should they lose a key driver in a successful firm. The smaller the enterprise, the more vulnerable it is likely to be to the loss of key personnel through death or serious illness. The death or permanent incapacity of a sole trader, for example, can literally entail the death of the business. This is where independent financial advisers could be doing more by suggesting the firm take out cover in the form of keyman assuran...