By Steve Wiltshire
What a momentous day.
Today we heard the news that so many of us have been hoping to hear for so long – that a vaccination to protect us from Covid-19 is safe and will shortly be available. At the end of what has felt like a very long tunnel, perhaps we are about to emerge into the light.
And it feels lucky. “A miracle,” I’ve heard people saying. But of course it’s not a miracle; whilst some good fortune may have played its part along the way, this breakthrough is down to the hard work and persistence of some extremely clever scientists around the world. Scientists working in select teams with a dogged determination to achieve their objective.
Every member of a team has their part to play. Each is a unique part of a jigsaw puzzle which ensures that the team has the qualities and expertise it needs to achieve what it sets out to do. Whether you’re a research scientist developing a Covid-19 vaccination, a surgeon performing a life-saving operation, or a construction worker building a new supermarket, you rely on the other people around you to do their bit.
In some cases, those people are absolutely critical to achieving the plan. If Bob is one of the few scientists in the world who has figured out why one course of vaccination research is showing promising results, he is key to the team continuing to move forward. If Sarah, a Consultant Oncologist, practises a pioneering procedure that not many surgeons know how to perform, she is key. And if Nicholas is the man who has managed the construction of that new supermarket from the start, he is key to that building being ready on time.
If one of these people were to fall ill – or worse – meaning they are unable to keep working in the team, then the team can’t function as it did before.
Who’s key to your team?
Think about each of the people you work with, and ask yourself the question: “what would be the impact if they suddenly weren’t there?” Covid has shone a light on the risk that those we rely on could be incapacitated and unable to work with very little warning.
As a business owner, you need to know that, if one of your key people suddenly isn’t there, you can bring in someone with precisely the right skillset, to keep your business going without worrying about the cost. Not just anybody – but the right person. Key person insurance is an excellent way to achieve this, and it can be tailored precisely according to your risks and budget.
Like a chat?
We have a close relationship with a team of experts who can advise you on this, and other areas of financial protection for you and your business. We’ve seen first-hand the impact that the loss of a key person can have, and how having appropriate key person cover in place can alleviate the stress for a business owner. If you don’t have anything in place, or think it may be time to review your current arrangements, please get in touch for a no-obligation consultation.