If your Business depends on one or more key individuals to sustain, grow and excel then you must consider having a Keyman Insurance in place to mitigate business continuity risks
Andrew Carnegie‘Men and women, not machines, are the real source of profits in any business. Take away my factories, my plants, take away my railroad, my ships, my transportation, take away my money, strip me of all these – but leave me my men and women and in two or three years, I will have them all again.
Keyman Insurance is very affordable, typically the annual premium is much less than 1.00% of the cover amount. Depending on the age, lifestyle and health condition of the insured, it can be higher or lower as well.
The term of the policy depends on various factors like the age of the key person/Partners and the personal choice of the stakeholders of the company.
It can be availed for a term between 5 years and Whole life of the insured.
The Insurance proceeds are typically used for the following;
The premise of achieving early retirement by following the “Financial Independence, Retire Early” (F.I.R.E) methodology is fairly straightforward. You save aggressively when you’re young, with the aim of retiring by your 30s, 40s or 50s.
Are you unsure about investing at this point as market valuations are high, and you foresee a correction in the near future?
You may be right!.
While the holy month of Ramadan is associated with fasting, prayer, giving and connecting with family and friends, it is also associated with a significant increase in shopping and festivities.
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