According to research by Legal & General, a massive 79% of businesses in this country could go under if they lose a key employee.
However, in terms of insuring against this risk, only 21% have actually thought about it. Think about how much you spend on things like offices, machinery and liability insurances and these are insignificant to losing a key employee or director or partner.
Our view
The costs to insure for this risk are extremely small costing a few pounds a month rather than hundreds and thousands. Make sure your business is adequately protected.
Think of a key individual in your firm and use our key person calculator to see what sort of a financial loss you may suffer.
Take a look at our Business Wills section.