A keyman is a member of the staff or a director who is critical to the financial success of the company. It could be the founder of the business, or someone who sets the strategy, or even a top salesman or someone with a particular skill. Keyman insurance policies are designed to protect businesses from the financial impact of losing critical employees through death or illness. Companies can take them out as life-only insurance policies or have critical illness included in the key man policy. Businesses will also receive protection in the case of losses incurred from the unexpected departure of a key income generator.