CONTEXTUAL ADVERTISING / 

WEBSITE DEVELOPMENT / SEO / SMM / WEB-DESIGN

Business Insurance

Key Person/Key Man Insurance

why use us?

From the information you provide to us, our experts will search the market and find the most suitable products for you. If you are happy with the product on offer, we will handle all the necessary paperwork for you, including any relevant applications, to ensure that everything runs smoothly for you.

Quick Service

From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.

Expert Advice

We’ve helped thousands of customers secure financial products and service so you know that you are in capable hands.

Reduced stress & time saving

Choosing the right financial product is time consuming and can be stressful, so remove much of this by putting it in the hands of one of our financial experts.

Reliable service
Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.

Employers liability insurance

What is Key Person or Keyman Insurance?

Keyman Insurance or Key Person Insurance as it is also known, is a life insurance policy taken out by a business. It is used to protect it in case it lost any of the key people within it. This is used in order to protect the business if anything were to happen to the most important people involved within it. It is extremely important to small and medium sized businesses.

This is used if the owner or a key employee were to die, suffer a serious illness or injury. This insurance would pay out the lump sum laid out within the contract. It is usually only taken out on the most critical employees within the business. This money is then used to keep the company running and paying it’s expenses until that key person can then be replaced or returns.

In some cases without this Keyman insurance then if a key employee were to die then it could ruin the company. This is because the owner is normally the person who holds the business together. Either through the accounts or the employees, especially in a small business with few employees.

You can get various amounts of cover depending on the importance of the employee or the size of the business. The amounts range from £100,000 to £1m plus.

However, if you are a sole trader there is often no need to take out this type of insurance. If the business is owned by a sole person and if that person was unable to work, in theory, it is then just a matter of closing the business down. However, it would still be advisable to consider Key Person insurance even in this instance. This is due to the impact it could potentially have on any surviving family members. This will be due to there reliance on the income from the business. It could also be important to make sure any personal guarantees that may have been taken out are catered for.

There are many different options and scenarios regarding this. This is why we’d recommend talking through your individual circumstances with one of our highly trained advisers.


REQUEST YOUR FREE consulation

Contact Us

Our Office is open 9am-5pm from Monday to Friday. Please contact us by either phone or email, using the contacts below.

CRM form will load here

Finance Advice Centre Ltd is an appointed representative of Finance Advice Group Ltd, which is authorised and regulated by the Financial Conduct Authority in respect of mortgage and insurance mediation activities only. Finance Advice Group Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 624517.

Some types of buy to let mortgages are not regulated by the Financial Conduct Authority.

As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayments.