Key Person
Income Protection
If major talent within your business couldn't work due
to illness or injury, Key Person Income Protection could
protect against the financial impact.
Introducing Key Person Income Protection
No one can predict the future, but Key Person Income Protection acts as a failsafe if a crucial member of your team is out of action. Find out how Key Person Income Protection insurance can give your business much-needed stability at a difficult time.
What is Key Person Income Protection?
Key Person Income Protection is a type of business protection insurance that safeguards a company against the financial impact of a key employee being incapacitated due to illness or injury. In exchange for your premiums, your business will receive a monthly benefit if you ever make a valid claim on the policy.
What does Key Person Income Protection cover?
‘Key man’ income protection pays for the peace of mind in knowing that your business can continue its activity when a key man or woman is unable to work. Here are just some of the ways you could use your Key Person Income Protection benefit:
- Hire a temporary replacement employee
- Protect a proportion of profits
- Help with business loan repayments.
Customer Contact
To discuss our Business Protection Plans, call us on 0800 197 9208.
Lines open 9am to 5pm Monday to Friday.
We may record and monitor calls.
Alternatively, email us on businessprotection@landg.com
Looking for the adviser centre?
If you are an adviser looking for support for your clients, our adviser and wealth management centre can provide all the information you need.
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.
Fast underwriting decisions
Approximately 82% of underwriting decisions are instant.
Includes Waiver of Premium
You won’t have to pay your premium while the benefit is being paid.
Navigate financial uncertainty
Cover can go towards loan repayments, protecting lost profits or to hire a temporary replacement employee.
Return to work support
We’ll continue to pay a proportion of the benefit if the employee returns to work at reduced capacity.
Protect against inflation
Option to choose increasing cover, which increases in line with the changes in the Retail Prices Index.
Speak to a qualified financial adviser
You can call our team on 0800 197 9208 from 9am to 5pm Monday to Friday (note - we may record and monitor calls), or email us at businessprotection@landg.com. We’d be delighted to advise you on how to protect your business’s financial future.
Related content
Relevant life insurance and tax
Find out more about how HMRC views the employee benefit, relevant life insurance, and how relevant life policy tax relief works with our guide.
Business life insurance
Running your own business is rewarding in many ways, but as a business owner you know there is a lot at stake, from financial responsibilities to professional relationships. Protecting your company with business protection insurance could offer peace of mind. Find out more in our helpful guide.
Key Person Insurance
Key person insurance, like our Key Person Protection, can help to protect your business against the financial effects of death, terminal illness (life expectancy less than 12 months) or a specified critical illness (if chosen for an extra cost at outset), of a key person while the plan is in place.
Shareholder Protection Insurance
Shareholder insurance can help avoid disruption to your business if one of the business owners dies, for example: a partner, director, or member. Find out more about Share Protection.