Key Person Income Protection
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.
Key documents
Key documents
Tools and calculators
Reasons to recommend Key Person Income Protection
Practical and emotional support, exclusively through intermediaries
Services and optional benefits to enhance the core policy
Offers clients more choice, flexibility and cover
Key features and benefits
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
80% 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.
Support from Umbrella Benefits
Rehabilitation Support Service
Included as standard with income protection. Supports a quicker return to work, and good physical and mental health.
Wellbeing Support
Access included as standard on protection policies. Personalised practical and emotional telephone support from a registered nurse.
Product details
For full details, see key documents for the policy summary and policy booklets.
Cover overview
For full details, download the Product Profiles PDF: 905KB document
Minimum cover |
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Maximum cover |
The following applies:
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Type of cover |
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Minimum term |
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Maximum term |
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Minimum age |
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Maximum age |
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Premiums |
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Benefits and options
Deferred period |
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Limited benefit period |
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Linked claims |
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Proportionate Benefit |
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Rehabilitation Support Service |
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Wellbeing Support |
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Waiver of Premium |
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Changing your policy (previously known as Guaranteed Insurability Option) |
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Other changes |
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