Who can be insured under this policy?
Keyman Insurance policy is applicable to anybody within the company, irrespective of the designation or nature of work. This person is usually identified based on the skill sets he/she possesses, leadership qualities and how much he is bringing to the table.
Basically, keyman is a person who is an irreplaceable asset in the company and the absence of whom will have a major shake down on the functioning and income generation of the company. This way, the employer gets the benefit of either having a valuable employee in his service or enough financial aid to replace him or do the needful in the keyman’s absence. For example, a keyman could be anybody ranging from Directors of a Company to key project managers or even people with special talent and skill sets.