Almost every business has certain staff members who it depends on heavily for its success. It may be the managing director, a salesperson or one of the technical staff such as a chemist or engineer. They are often as vital to the success of the business as its physical and capital assets. The premature death of such a key person can result in severe financial loss to a business. Due to the person’s skill, experience and training, they can often be very difficult to replace. To compensate the business for the loss it would sustain if the person dies prematurely, it may become vital to take out a policy on such person’s life. The plan guarantees that cash will be available to absorb the shock to the business, protect existing credit facilities and provide the necessary funds for the recruitment and training of a new person. We at TaylorMade Wealth management will assist you with a comprehensive analysis to ensure you are sufficiently covered.