Key man insurance, sometimes referred to as key person insurance, provides cover against business losses that may be incurred as a consequence of the prolonged absence or death of the business owner or a key member of staff.
The malaise in financial markets is continuing with Australian shares now joining Europe, Japan and emerging markets in a bear market.
Global growth worries could drive more short term weakness. But in the absence of a US/global recession it’s hard to see a deep and long bear market.
The key for investors is to recognise that periodic declines in share markets are normal, that selling after big declines just locks in a loss, that dividend income from a well-diversified portfolio is little affected by share market volatility and that income flow from Australian shares is now very high relative to bank deposits.