Because of their contacts and experience management key persons are often an invaluable asset for a company.
A longer absence from work can result in often incalculable financial losses. Especially for entrepreneurs or small to medium businesses the loss of a key person can be an incalculable financial risk jeopardizing the business. The financial consequences of a key person serious illness can be significantly reduced by insurance.
Should an insured person be diagnosed with a serious disease the sum insured will be paid to the company in order to cover e.g. the costs for the search of a substitute or successor (e.g. headhunter) or other measures to be taken to continue the business.