Who owns the policy?

Who owns the policy?

Key People

In 2019, 96% of UK businesses employed less than 10 people *, but every business will have key people.

* Source: House of Commons Library

Key People

In 2019, 96% of UK businesses employed less than 10 people *, but every business will have key people.

* Source: House of Commons Library

How vulnerable is your Business? 

There are long and short-term effects on a business, brought on by the loss of a key person. For example, in the short-term, there may be an impact upon relationships with creditors and suppliers. In the longer term, the business may cease to trade.

How vulnerable is your Business? 

There are long and short-term effects on a business, brought on by the loss of a key person. For example, in the short-term, there may be an impact upon relationships with creditors and suppliers. In the longer term, the business may cease to trade.

Business Survival Rates

In 2018, 

381,000 businesses opened 

but 336,000 closed **.

** Source: House of Commons Library

Business Survival Rates

In 2018, 

381,000 businesses opened 

but 336,000 closed **.

** Source: House of Commons Library

Please contact us with your Key Person Insurance query

Please contact us with your Key Person Insurance query

Simply enter your details below for us to help you.

By submitting  information through this website, you have given your agreement to receive verbal contact from us to discuss your insurance requirements. You voluntarily choose to provide personal details to us via this website. 

Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 2018.  You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.

Simply enter your details below for us to help you.

By submitting  information through this website, you have given your agreement to receive verbal contact from us to discuss your insurance requirements. You voluntarily choose to provide personal details to us via this website. 

Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 2018.  You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.

By submitting this data, I am consenting to the use of my data in line with our  Privacy Policy

By submitting this data, I am consenting to the use of my data in line with our  Privacy Policy

What is 3 + 5 =

What is 3 + 5 =

The company takes out and owns the policy to cover a key person. The company is also the beneficiary of any claim on the employee. 

The company takes out and owns the policy to cover a key person. The company is also the beneficiary of any claim on the employee. 

  • The policy provides a safety net of a lump sum, should a key person die or suffer a critical illness during the policy term. 
  • As the business deals with the loss of the key person, this type of insurance is designed to help a company to continue trading. 
  • The proceeds of the Key Person Insurance policy are paid directly to the company, thereby protecting the business, its employees and its shareholders.
  • The policy provides a safety net of a lump sum, should a key person die or suffer a critical illness during the policy term. 
  • As the business deals with the loss of the key person, this type of insurance is designed to help a company to continue trading. 
  • The proceeds of the Key Person Insurance policy are paid directly to the company, thereby protecting the business, its employees and its shareholders.

What does a Key Person Insurance policy cover?

What does a Key Person Insurance policy cover?

What you may wish to consider

What you may wish to consider

Key Person Insurance is designed to provide funding to a business for the following, in the event of a key person suffering a critical illness or dying prematurely: 

  • The recruitment and training of a replacement 
  • Supplementing profit loss
  • Replacing lost income, as a result of declining confidence of creditors and suppliers
  • Replacing lost income, as a result of the potential loss of customers

Key Person Insurance is designed to provide funding to a business for the following, in the event of a key person suffering a critical illness or dying prematurely: 

  • The recruitment and training of a replacement 
  • Supplementing profit loss
  • Replacing lost income, as a result of declining confidence of creditors and suppliers
  • Replacing lost income, as a result of the potential loss of customers

Benefits of Key Person Insurance

Benefits of Key Person Insurance

Home > Keyman Insurance > Who owns the policy

Home > Keyman Insurance > Who owns the policy

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