Key Person Protection

Helps safeguard a business against the financial effects of death, terminal illness, or critical illness if that option is chosen, of a key person while the plan is in place.


Key Person Protection is a life insurance policy written on the life of the key person but owned by the business. Critical Illness Cover or Critical Illness Extra can also be added to the policy at outset. The business pays the premiums.

In the case of Limited Companies and Limited Liability Partnerships, when a valid claim is paid, the money due is paid to the employer.

If the key person is in a partnership, the policy is written on an own life basis and may be placed in trust for the benefit of the other partners.

A key person is an individual whose skill, knowledge, experience or leadership contributes to the continued financial success of the business.