Find Trusted Key Person Insurance Near You

Why Key Person Insurance Matters for Your Business

Every business, including limited companies registered in England, relies on key people. Whether it’s a key employee, senior manager or someone with unique skills, losing a key person can lead to loss of profits, extra recruitment and training costs, or even business failure. That’s why key person cover, also known as keyman insurance, is essential business protection.

What Does Key Person Insurance Cover?

Key person insurance policies can include critical illness cover, life insurance, and income protection. In the worst case, if a key individual passes away or becomes unable to work, the insurance policy pays a lump sum directly to the business. This payment can help cover lost income, hire temporary staff or fund recruitment.

Find a Local Financial Adviser Near You

Cover is usually tax deductible under corporation tax and may be advised by a qualified financial adviser. Choosing the right amount of cover is important, and insurance can provide peace of mind to anyone whose work due to the business is vital. Protect your business today with the right key person insurance near you.

Frequently Asked Questions

Finding the right professional can be tricky, so we want to help you understand everything you need to know before you decide who to hire. We have created this resource dedicated to answering your questions. You can find some of the most common questions below to help you decide.

Key Person Insurance helps UK businesses protect against financial loss if a key employee dies or becomes critically ill. It covers lost income, recruitment costs, and debts, ensuring business continuity during unexpected disruption.Read More

Key Person Insurance provides a payout to help businesses manage costs, replace lost skills, and stay operational if a crucial team member becomes seriously ill or dies. It reduces disruption and supports long-term stability.Read More

The right amount depends on the key person’s value, role, and financial impact. Use income, profit contribution, or replacement costs to decide cover that protects your business without wasting money.Read More

Without Key Person Insurance, a business may face leadership gaps, financial pressure, disrupted operations, and long-term damage to growth and trust. Insurance helps protect stability and ensures smoother recovery during difficult transitions.Read More

Key Person Insurance in the UK typically costs between £10 and £100 per month, depending on the person's age, health, role, cover amount and policy type. Costs vary by insurer and business size.Read More

Key Person Insurance is most useful for businesses that rely heavily on specific individuals for income, leadership, or client trust. It helps cover financial risks if those key people become seriously ill or pass away.Read More

To set up Key Person Insurance properly, identify key roles in your business, choose suitable cover amounts, provide the necessary details when applying, and review the policy regularly to ensure it continues to meet your company’s needs.Read More

Common mistakes when taking out Key Person Insurance include choosing the wrong person to insure, underestimating the cover amount needed, setting up the policy incorrectly, and failing to review or communicate the policy properly.Read More

A key person is someone whose absence would seriously affect a business, such as an owner, top manager, or expert. Key Person Insurance helps cover financial losses if they become unable to work due to illness or death.Read More

A Key Person Insurance policy pays out if a covered employee dies or is diagnosed with a serious illness. The funds help the business recover through recruitment, debt repayment, lost income cover, or restructuring support.Read More