This article will show you how to value a 'Key Person's' dependence for financial planning purposes.
Select the corporate client from the Clients module. Select Employees from the left hand menu and select the relevant employee and go the Key Person tab: Enter the number of years the protection is required for the individual. Record the Contribution to sales/income and Contribution to business profit as a percentage, for example if the employee contributes 40% of the sales income enter '.4' into this box. Enter the monetary value of any cost to recruit a replacement, the cost to train the new person and any potential losses the corporate client may incur as a result of them leaving. The Current cover field is for any the amount of any existing cover. CCD will then calculate a suggested level of cover in the Minimum cover required field.