KEY Man Insurance

Key man insurance is not available for proprietor.

Thanks

S.K.GUPTA

Hi,

Keyman insurance moto is to secure the life of the key employee of the business,  if the key employee of the firm/company is expired, at that time the insurance company will pay the amount to the proposer (i.e. firm/company) to compensate the loss arise by lefting the key employee.

In case of the properitor firm, properitor of the firm is not a person employee, in defination of the key employee person, in my view the key man insurance is not possible