Key Person Insurance
Keyman Insurance protects your company from potential damage or loss in the event of a ‘key’ person within the business suddenly become unable to work due to death or illness. A cash lump sum would be paid to your company to compensate for any loss of revenue and profit.
Keyman Insurance protects your company from potential damage or loss in the event of a ‘key’ person within the business suddenly become unable to work due to death or illness. A cash lump sum would be paid to your company to compensate for any loss of revenue and profit.
Protection From The Loss Of Key People
Why Would I Need Keyman Insurance?
Who are the most important ‘key’ people in your business?
- How integral to your business is your Managing Director? Without their vast knowledge, experience and important contacts, the business could struggle.
- Do you have a star salesman who brings in high levels of business? Without their leads and sales, your profit margin could take a direct hit.
- Do you rely on a highly-skilled engineer to manage your machinery? In their absence, business-critical operations could halt.
- Do you have an IT Manager or Developer who looks after your systems? IT systems underpin many business functions, which could suffer in their absence.
- Do you work closely with a Finance Manager or Financial Controller? Without their advice and expertise, big decisions may become riskier.
Safeguard Your Business
Without Keyman Insurance, you could face financial pressures, reduced cash flow and even a loss of customers. By putting in place protection to safeguard against the loss of the most important people in your company, you can rest assured that your business will be robust enough to stand the impact.
For more information and specific questions please see our Keyman Insurance FAQs below.
5* Client Service
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Request a callback
To provide you and your company with the highest level of service, we need to understand your requirements.
Request a callback at a time to suit you. In most cases, this call should take no more than 30 minutes.
FAQS – Key Person Insurance
Below are some of our frequently asked questions regarding Key Person Insurance.
To receive the best assistance and advice please give our team a call on 0116 366 6866 or use the form to request a call back.
What is a ‘key man’ policy and who can take this out?
To protect a company from the loss or absence of a ‘key’ man or woman in their business, this form of insurance can be taken out by any company.
Are Keyman policy premiums tax deductible?
Yes, you can offset premiums against corporation tax. We strongly advise speaking to your financial adviser and your accountant about this.
Does the company own the policy?
Does the company pay for the policy?
How much does Keyman Insurance cost?
What is the length of this policy?
Does the company need to be U.K.-based to take out the cover?
How do I know what amount to insure the ‘key man’ for?
Does it take a long time to set up a Keyman policy?
Usually, we can arrange cover fairly quickly – however, it may take longer if you require a higher level of cover. Sometimes, to justify the insured sum, the insured may need financial underwriting or they may need to undergo a medical.