Key Person Insurance

Insurance protects a company from business, technical, and organisational risks to ensure its smooth business operations. It covers “a key person” responsible for the company or vital for its operations. An unforeseen incapacity for work of such person may lead to a financial loss. The Key Person insurance is primarily designed for small and medium enterprises and sole traders.

Insurance benefits:

• unique insurance product in the market
• protection of a company against a risk of losing a key person (a manager, specialist, executive officer, and such persons) caused by a disease, death, and disability
• tax deductible insurance premium

We offer two insurance coverages to choose from:

• Basic Coverage –insurance against death caused by an injury, permanent and full disability caused by an injury, and hospitalisation caused by an injury
• Full Coverage – insurance against death caused by a disease and injury, permanent and full disability caused by a disease, injury and hospitalisation caused by an injury

How to sign Insurance Policy

You can enter into an insurance policy in any VUB branch by signing a simple insurance policy and specifying the following:

• insurance coverage:
  • from € 3,320 to € 66,400 against death and permanent disability risk
  • from € 7 to € 170 a day against hospitalisation risk
• key person
• payment cycle – monthly or annually

Who is the key person: A key person can be an executive officer, specialist and all employees a company defines as its key employees. In case of sole traders, even a sole trader can be a key person and insure himself/herself. A company may insure several key employees by concluding an insurance policy for each such employee.

For more information on the key person insurance you can visit any VÚB branch or call KONTAKT 0850 123 000.