Keyperson - Loss of Profits -report

Underwriting Guidelines

Irish Life cannot provide a level of cover however the following would be a general guideline.

In determining the appropriate amount of keyperson insurance cover an insurable value must be put on the potential financial loss that the company would suffer on the death or serious illness of the “key” individual.

Where the cover is required for Loss of profits the calculation is in relation to profit therefore it is estimated as the keypersons % contribution to profit, up to a maximum of twice gross profit or five times net profit. (I.e. profit after expenses but before tax).

Important: The level of cover will be subject to full professional, medical and financial underwriting.