Are you a company director, a partner in a business or a sole trader? If so, have you any key employees who are paramount to the success of your business? Have you ever thought about the consequences for your business if s/he died or got seriously ill?
• Are there bank loans on which the key person gave personal guarantees, which may be called in?
• Would your business be in a position to repay if these were? Even so, could this apply undue stress at an already difficult time?
• Is it conceivable the banks or your suppliers could reduce or withdraw credit? Would they have the same confidence in the future profitability of your business?
• Would you be able to find a suitable replacement, in real time, or any time, with the same experience and personal knowledge of your business?
• Would your business have funds to buy time against the likely interruption of business activity and future profits?
• Could other key employees be disrupted or discommoded in any way?