The greatest asset that you have is probably the people who work for you. What would happen to your business if a key person died or one of the shareholders died, requiring you and your co shareholders to buy-out the shareholder's family?   Key Man Insurance is critical for most businesses, the loss of the Managing Director or a key sales person would have devastating effects on the profitability of the business. In addition, it could be extremely expensive to find an appropriate replacement for that person.   It is relatively simple, and inexpensive, to prepare for such a catastrophe, thereby protecting your company.   If you are a shareholder or partner in a firm, it is equally as simple to arrange for appropriate life assurance protection to ensure that the control of the company stays in your hands in the event of the death of one of your co shareholders or partners.   Do you really want to have to consider borrowing substantial sums of money at some point in the future, simply to acquire shares from a deceases shareholder's estate when you can make the provision now at little cost?