Protects against the financial impact to a business if a key employee can’t work due to illness or injury
Key Person Income Protection helps businesses who wish to protect against the financial impact of their employee becoming ill or injured. If the employee covered becomes incapacitated due to illness or injury and unable to work as a result, we will pay your client’s business a regular monthly benefit.
The benefit can be used to hire a temporary replacement employee, to protect a proportion of profits, or help with business loan repayments.
Designed to help small businesses
Reduces the impact of the incapacity of the key employee on the business at what would otherwise be a time of financial worry.
Navigate financial uncertainty
Cover can go towards loan repayments and protecting lost profits, to service any borrowing of the key person’s remuneration or to hire a temporary replacement employee.
Fast underwriting decisions
83% of underwriting decisions receive an instant decision.
Return to work support
We’ll continue to pay a proportion of the benefit if the employee returns to work at reduced capacity.
Includes Waiver of Premium
Your client won’t have to pay their premium while the benefit is being paid.
Protect against inflation
Option to choose increasing cover, which increases in line with the changes in the Retail Prices Index.
For full details, download the product profiles document
The following applies:
|Type of cover||
Benefits and options
|Limited Benefit Period||
|Rehabilitation Support Service||
|Waiver of Premium||
|Changing your policy (previously known as Guaranteed Insurability Option)||
Pre-sale support, including underwriting limits, BMI, and how to get an indication of our terms.
Everything to help you help your clients, including calculators, sales aids and case studies.
Explore our library of brochures, forms, guides, and product sales aids for advisers.