Who can be a Keyman?
Anybody with specialized skills, whose loss can cause a financial strain to the company are eligible for Keyman Insurance. For example, they could be:
  1. Directors of a Company
  2. Key Sales Person
  3. Key Project Managers
  4. People with Specific Skills etc.


Eligibility for keyman insurance:

The ‘keyman insurance (KMI) is allowed to the employee, if he satisfies the following condition -
  1. The ‘keyman’ should hold less then 51% shares of company.
  2. The total number of shares of the company held by the keyman and his family should be less then 70%
  3. The keyman should be literate.