KEYMAN ASSURANCE POLICY
This policy provides cover against financial loss a company may suffer on the death of a key employee who is critical to the continued existence of the company. The following are typical situations that could require a key person policy:
A controlling person upon whose existence the repayment of a credit facility extended to a company may depend. In this case a bank may insist on life cover as a condition for the loan.
A founder of young company who still provides most of financial backing should take up this policy. This is because the company might not be able to survive at all after his death.
A situation where there is an expert, who is very vital to the full implementation of a particular project because of his detailed knowledge; the death of such an employee might necessitate the cancellation of the project unless enough fund can be available to hire an equally suitable replacement.
A top executive who has been recruited as a result of an expensive ?head hunting? operation. If he was expensive and difficult to recruit, then finding a worthwhile successor will also be expensive and difficult.


Benefits
Lower premium is used to buy a large sum assured.
Save the company the embarrassment of early exit of an important figure or personnel.
Could be extended to cover some forms of critical illnesses.

To purchase policy or get more clarification please contact us:
Tel: 08036411416 or 08023782509
Email: bayomutualbenefit@gmail.com or omotoshoa@gmail.com
Address: 38 Community road akoka, Yaba, Lagos