The insurance cover that can unlock and protect the value of key staff on the farm
Can you afford to be a man down? Spring has almost arrived and so too has the increased workload that comes with it.
The prospect of taking time off because of illness or incapacity is simply impossible or a source of great fear for many farmers.
This is why it's essential to put in place the type of cover that will reduce worry and anxiety around these issues while providing financial security to the farm.
While many farmers hold core general insurance policies, they may not be covered for occurrences such as illness or disability that may remove them from the day-to-day work on the farm.
Insurance companies like FBD offer additional financial protections including 'keyman' cover, which can help to protect the farmer, dependants and the financial security of the business.
Keyman insurance (also known as business protection) is often overlooked due to the many different policies that farmers will be required to have in the course of a year.
Keyman insurance is designed to financially protect farms from the effects of prolonged illness or even death of staff who are central to the day-to-day operation of the farm, including the farmer himself.
Keyman insurance can't replace people but it can provide cash to buy time and cover the costs of temporary staff, loss of profits or provide a cash injection.