Keyman Insurance

Insuring against loss of key talent

Keyman Insurance

Insuring against loss of key talent

At a Glance

Who is a Keyman? Keyman can be an employee of an organization/ partnership firm/ sole proprietor (except the proprietor) without whom the smooth functioning of the organization is hampered. Keyman could be:

  • Key Executive
  • Key Employee
  • Full-time Director
  • Working Partner
  • An Employee with specialized skills

After spending so much time and money into building your business, the last thing you would want to think is:

  • If something were to happen to a key person in the business, it could cause a major financial loss and operational strain on the business
  • How will the business make up for the loss in sales and pay off its debts?

That is where Keyman Insurance comes in to protect your business and your family.

Key Benefits

  • The business is a beneficiary to the policy and receives money for covering up for any losses suffered, debts incurred and costs borne for finding and hiring a suitable replacement when the owner passes away.
  • Where the entity is a Sole Proprietorship concern , you may consider individual life insurance policy to protect your family.
  • In case of a Partnership firm or Limited Liability Partnerships , after your demise the Partners would receive the money that they would use to buy your share of the business from your family at a previously agreed price.
Features & Benefits
  • Financial continuity is created on day 1 with a relatively small investment ensuring liquidity at the time of crisis.
  • Creates business contingency plan to avoid hostile takeover and forced liquidation.
  • This would enable banks and other creditors to maintain their confidence without diluting credit standing.
  • Employees and vendors would be assured about buoyancy of business.
  • The received funds can be used to find and train a suitable replacement.
  • Business can claim tax benefits under section 37(1) towards the premiums paid*

*Income tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated there in. Income tax laws are subject to change from time to time. DBS Bank India Limited does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefit available to you.


DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the Registered office at GF: Nos. 11 & 12 Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Composite Corporate Agent of:

Tata AIA Life Insurance Company Limited (IRDA of India Regn. No.110) CIN: U66010MH2000PLC128403 having the Registered office/principal place of business at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013,Aditya Birla Sun Life Insurance Company Limited (IRDA of India Regn.No.109) having the Registered office address at One India bulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013;

Royal Sundaram General Insurance Company Limited (IRDA of India Regn.No.102) CIN: U67200TN2000PLC045611 having the Registered office address at No.21, Patullos Road, Chennai – 600002; and

Bharti Axa General Insurance Company Ltd. having the Registered office address at First Floor Hosto Centre, No. 43, Millers Road, Vasanth Nagar, Bangalore - 560052 and Go Digit General Insurance Limited and having its corporate office at Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru, Karnataka 560095. ISNP Registration valid.

DBS Bank India Limited (the Bank) does not underwrite the risk or act as an insurer. The Insurance products are offered and underwritten by respective insurance companies. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. The Bank does not give any warranty, as to the accuracy and completeness of the policies. The Bank does not accept any liability or losses attributable to your contract of Insurance. Customers are advised to take independent professional advice before participating. Insurance is a subject matter of solicitation.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. 

Tax benefits are available as per the prevailing tax laws, which are subject to change. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank

How to Apply
for Keyman Insurance Plan
Visit us at your nearest DBS branch

Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555