Key person insurance

Key person insurance

What would happen to your business if you suddenly lost an important member of your team? 

According to Royal London, 54% of small business owners don’t have insurance that protects their company against the sudden loss of a key employee – and 20% of them have never heard of it. But statistically, 46% of UK businesses would be forced to cease trading immediately if a key person died or was unable to continue working through illness or injury.


What is key person protection?

Key person protection - through a life assurance, critical illness, income protection plan, or a combination of all three - provides a lump sum or flow of income to your business if a key member of staff dies or suffers a serious illness. This allows your business to continue trading at a time of considerable uncertainty and financial pressure.


What does key person insurance cover?

  • Loss of profits suffered until a replacement is found and in place
  • The costs of recruitment and training new staff
  • Income to the ‘absent’ person where applicable, plus funds for the cost of a temporary replacement.


How we can help:

We can help you put the right protection plans in place so you don’t lose out if the worst should happen.


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