Only one in ten small businesses have critical illness policies in place for their key employees, according to new research from insurance company Scottish Provident
This means that many businesses could be leaving themselves at risk financially. Most key employees are working directors who own the business. Others can be employees, such as the managing director.
The way to work out whether someone is a key employee is simple. They are the " engine room " of the business, the man or woman who " knows how everything works". If illness stops them from ever working again, the business usually suffers.
Nothing can adequately replace any expert individual, but critical illness insurance can provide financial assistance to the business and the individual.