couple family tablet pensions

Key Person Protection

What is Key Person Protection?

Key Person Protection helps safeguard a business against the financial effects of death, terminal illness, or critical illness* of a key person. The loss of a key person may result in reduced sales, loss of profit/turnover, wasted time, recruitment costs, the disruption of development plans or increased workloads for remaining staff. The premiums are sometimes eligible for tax relief.

Who is a ‘key person’?

A key person is an employee whose continued absence would affect the profits of the business. Someone whose skills, knowledge, experience or leadership are important to its continued financial success. Examples of a key person include, but are not limited to:

  • Directors
  • IT specialists
  • Managing director
  • Other important employees

Request Quotations