The following information is required to establish insurable interest and determine the proposed sum assured
Details of Company’s operation
- Duties and expertise of the key man
- The key employee’s earnings
- The total earnings of all employee
- The company’s turnover
- Recovery Period – The number of years that it will take the company to be at the same level of profitability immediately before the death of the key person.
- Companies Annual audited accounts for the past 3 years for the purpose of financial underwriting
- Projected future Profit growth rate based on past performance
- Medical examination report on the key person
