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Thursday, 26 Nov 2020

Keyman Insurance

The Alliance Life Keyman Insurance is a specialized insurance cover for key employees of an organization or project managers. These are people with expertise on whose lives organizations or projects depend for survival.

The employer or projects would suffer huge financial losses in case of their death or disability. The Keyman Insurance is aimed at protecting such institutions from losses that maybe incurred when the key person, who may be critical to the successful completion of a project or steering the growth of a company, dies or become disabled.

Keyman Insurance may also be necessary when accessing loan capital for business expansion and development projects. The capital payout by the insurance company in case of death or disability redeems the amount borrowed. The insurance is usually ceded to the lending institution or the employer.

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