Protect your business against the financial loss from losing a key player with cover starting
from R200 000.
This insurance policy is taken out by your business on the life of a key employee and pays
lump sum benefits to your business when the unforeseen happens.
FNB Key Person Insurance provides Life Cover up to R100 million with no waiting periods and Disability Cover up to R50 million can be added as a rider or chosen as a standalone benefit.
A "Key Person" can be any employee in your business with a special skill or important duties without whom the business will suffer a financial loss.
Our Key Person Insurance presents a few options to suit your business needs. Product features include:
Life cover can be selected for a specified term or until the ages of 70 for Life Cover and 60 for Disability Cover.
Your insured amount can increase annually at either a fixed rate or linked to inflation.
The full life cover amount will be paid out if the key employee is diagnosed, by a certified medical practitioner, with a terminal illness which results in less than 12 months to live.
The key employee is covered immediately for accidental death.
Provides a lump sum payout if your key employee becomes permanently disabled.
We will need some information around your business and your key person/s. The cost of this policy will depend on the protection you seek and any escalations you choose along with the outcome of our risk-based underwriting processes.
Valid FNB Business Account.
Life assured, Key Person must be:
We will need to contact your key employee/s to answer medical questions as part of the take-up process and may require some medical tests to be performed.