Several years ago, a colleague passed away suddenly from a cardiac arrest. He was an important part of the organization and was taking care of several important projects at the time. Luckily, his subordinates and peers were able to take over what he was doing though not without some hassle.
However, if a company is small and has limited human resources, a loss of a key man could greatly upset the running of an organization. It could even result in financial losses for the company if it's not able to honour its contracts. For this reason, a small business would be wise to invest in a key man insurance to compensate it for the loss of an important employee, afterall, employees are a company's most important assets.
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