Protect Your Business with Key-man Insurance

The key to protecting the business is to insure its key persons. Key-man insurance is an insurance policy paid by the company (Company = Sdn Bhd), to cover the company in the event of losing its key-man/men. The company is the proposer and beneficiary of the insurance plan. The company has insurable interest over the key-man because if it loses the key-man, the business will be significantly affected. The key-man can be any persons employed in the business and one who gives a significant contribution to the business. The key-man can be the managing director, the general manager or any staff with specialised skills, knowledge or business network.

The key to protecting the business is to insure its key persons. Andrew Carnegie once said :

“Take away my factories, my plants; take away my railroads, my ships, my transportation; take away my money; strip me of all these, but leave me with my people, and in two or three years I will have them all back again.”

If you are running a business, how much would you insure you factory? How much would you insure your machines ? Some businessmen insured their factory worth millions but  left themselves uninsured.

At Glorious Agency, we provide Key-man Insurance designed to help corporate clients with its business continuity plan. To learn more about how we can assist corporate clients and businessmen with any of our other services, contact us today and receive a free, no-obligation consultation.