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We have helped thousands of people compare quotes for Key Man Insurance Policies from the UK’s leading insurers. The quotation and advice service is completely FREE & you are under no obligation to purchase.
We are specialist independent advisers who provide FREE advice and quotations by email for Key Man, Relevant Life, Shareholder and other types of Insurance, whether for Directors, Key Employees Shareholders, Partners or on a personal basis.
We do not employ any sales people, but offer a more personal service from an expert business protection adviser. This allows you to make an informed decision in your own time.
What is Key Man Insurance?
Key Man Insurance (or Key Person) is essentially a form of life insurance for businesses. It is generally taken out by a business to compensate for financial losses that would arise from the death or extended incapacity of the key individual(s) of the business specified in the policy, and in turn ensure the continuity of the business.
There are generally three categories of loss for which Key Man Insurance can provide compensation:
- Protect losses related to the extended period when a key person is unable to work; to provide temporary personnel; and, if necessary to finance the recruitment and training of a replacement.
- Protect profits such as offsetting lost income from lost sales or contracts; or losses resulting from the delay or cancellation of any business project that the key person was involved in; or loss of opportunity to expand, loss of specialised skills or knowledge.
- Protect business & director loans, overdrafts or investments. The value of insurance arranged can be used cover their repayment in full, or to assist in generating continued profit (as above) to help make any monthly payments.
As a result, a Key Man can be anyone directly associated with the business whose loss can cause financial strain to the business. For example, they could be a Director of a company, a Partner, key sales people, key project managers and people with specific skills or knowledge which is especially valuable to the company.
The assessment and quotation service we offer is completely FREE and you are under no obligation to purchase.