Key Man Agreements
A Key man Agreement is a contract where you insure the person in you business / department with specialized skills and that your business cannot do without
With a Key Man agreement / policy in place that if he/she dies or get disabled you have funds to replace the person.
Example: If you cannot cook and your spouse is the only proper cook in the house, with a life cover and disability policy you can have money to pay someone else to do the cooking from if they die or get disabled.
The same principle is used for Key Man Agreements
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