Group insurance schemes are essentially a health/medical insurance plan that cover all the members of a particular group, in this case, employees of an organisation.
Key Person Protection can be used as part of a unique risk protection plan for a business or a business owner looking at making their income secure if something thing should happen to any of the key people.
This cover is an agreed value benefit paid to the business and is designed to pay a monthly amount in the event of the key person or owner of the business becoming disabled due to sickness or accident and being unable to work.
It can be used to cover bill payments, employing someone to cover the key person while they are off work or simply to pay a wage.