| · |
Business Loan Protection
Key Person Insurance provides business
loan protection and helps sustain
the company’s solvency if a key
person suddenly falls ill or even
passes away. The insurance compensation
can be utilised for loan repayment
to the company’s
obligations, thus helping it
to obtain continued support
from banks, suppliers and clients.
In the case of sole proprietors,
the insurance compensation will go to
their designated beneficiaries
as emergency financial
support for relieving their
financial burden related to debt repayment,
so as to give them total peace of
mind.
|
| · |
Key Person Protection
Losing the expertise and experience
of a key person may affect the
operation of your company, or
even cause a loss of profits.
Recruiting a qualified replacement
for the key person
is also likely to increase the
operation costs of your company.
The company, as the beneficiary,
will receive the insurance compensation,
which can be used flexibly in
different ways, such as making up for the extra cost of hiring
and training a replacement for the key person during the transition period.
|
| · |
Business
Continuity Protection
Key Person Insurance provides urgent aid for the
remaining shareholders / partners
/ successors of the sole proprietors
to alleviate any financial difficulties
or profit loss, in order to
keep the business going. Also,
the insurance compensation can be used
to buy out the interests vested
in the estate of the deceased
shareholder/partner to enable
the business to move on.
|
| · |
Comprehensive Life
Insurance Plans to Cater for
Your Specific Needs
Key Person Insurance
offers a comprehensive range
of life insurance plans with
different features
and policy terms. To achieve
effective risk management, all
you need to do is to identify
who is to be insured and which
life insurance plan is preferred
in light of your specific risk
exposures and business requirements.
|
| · |
Flexible Payment Options
You may choose to pay your premiums:
- monthly via Autopay; or
- annually via Autopay or by
cheque
|
|
| For more information, please contact your Hang Seng Bank Account Manager.
|