Key person insurance.
Protect the people your business runs on.
Every business has people it would struggle without. Key person insurance helps protect your company if one of them dies or becomes critically ill.
What is key person insurance?
Key person insurance is a policy owned and paid for by a business on the life of an important individual — such as a founder, director, top salesperson or someone with specialist skills. If that person dies or, where included, is diagnosed with a critical illness, the policy pays a lump sum to the business.
That money can help the business cope with lost profits, cover the cost of recruiting and training a replacement, reassure lenders and suppliers, or repay business loans.
How key person can help.
Features vary between insurers. We'll explain exactly what each option includes.
Protect profits
Help replace lost revenue while the business recovers and adapts.
Fund recruitment
Cover the cost of finding, hiring and training a replacement.
Repay loans
Help clear business debts that might otherwise be called in.
Reassure stakeholders
Show lenders, investors and suppliers that the business is protected.
Life and critical illness
Choose life cover, critical illness cover, or both.
Business continuity
Give the business time and resources to keep moving forward.
Who it's for.
- Businesses relying on a few key individuals
- Companies with business loans or investors
- Owner-managed and growing businesses
- Firms with specialist or hard-to-replace staff
Things to consider
- Working out the right amount of cover needs a clear view of each person's financial contribution.
- Tax treatment of premiums and payouts varies and depends on your circumstances.
- Cover should be reviewed as your business and team change.
That's exactly why advice matters — we'll talk you through the detail.
Get a personalised key person quote
Free, no-obligation and tailored to your circumstances.
Getting covered is easy.
Getting the right protection shouldn't be complicated. Here's how we help.
Talk to us
Tell us about you, your family or your business in a free, relaxed conversation — by phone, video or in person.
Get a clear recommendation
We research the options and explain what we recommend, why, and what it costs — in plain English.
Cover in place, and beyond
We handle the paperwork, keep your cover under review and are here to support you if you ever need to claim.
Key Person Insurance FAQs
Who counts as a key person?
Anyone whose loss would have a significant financial impact on the business — often directors, founders, senior managers, top sales staff or people with unique technical skills.
How much cover does my business need?
It's commonly based on the person's contribution to profits, the cost of replacing them, and any business debts. We'll help you arrive at a sensible, justifiable figure.
Who receives the payout?
The business. The policy is owned and paid for by the company, and the money is used for the business's needs.
Is key person insurance tax-deductible?
It depends on the circumstances and how the policy is set up. We'll explain the general position, and you should confirm the treatment with your accountant.
Let's talk about key person.
Book a free, no-obligation consultation. We'll explain your options clearly and help you choose with confidence.
Free initial consultation · No obligation · Friendly, plain-English advice
The information on this page is for general guidance and isn't personal advice. All cover is subject to the insurer's terms, conditions, exclusions and underwriting. Tax treatment depends on individual circumstances and may change.