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;
It usually takes 1 - 6 weeks working weeks after submission of the claims form and the relevant documents to process and payout a claim.
