New Kind of Insurance

Insurance

We all must be familiar with the term of insurance. Insurance is a tool that can be used to give the policy holder some sort of financial security. This is to cover some unexpected loss that is caused by the things that are covered in the insurance agreement. There are many types of insurance that you can apply, such as the car insurance policy, which give you some money to replace all the car repairing cost, there is also life insurance which give the descendant’s family some amount of money when the insurance holder dies.

Nowadays, there is also another new type of insurance, which is the key person insurance. This is a new kind of insurance where the insurance company will give away some money to a company, when ever the key person of that company is having some problems that restrict that person to work normally in the company. This can’t be applied to all employees, but only to those who hold key position is a company.

Since when the key person is losing his ability to contribute to the company, the company might also lose its ability to generate profit, the insurance company then cover for this loss. For more information about this kind of insurance, you can visit Xlife.co.au.

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