Key Pension Insurance

Effective risk management relies on successful identification of risk and putting in place appropriate strategies to mitigate those risks.

One of the key risks to your business is that of losing your key staff, whether these be your managers, shop floor workers etc.


The easiest way to show you how this works is to run through an example.

If you had a key member of staff, that you are paying £50K a year, if that member of staff was ever unable to work, you would need at least £60K to hire someone else and pay the national insurance. You may also need recruitment fees, or training costs to get someone up to scratch.

Additionally, if that employee was responsible for around £200K of turnover for your firm, you might want to consider insuring that too.

It’s more complicated than this, but that staff member might be insured for £275K to ensure that if something unfortunate happened, your business wouldn’t suffer.