Keyman Insurance

Keyman Insurance

Our panel of carefully selected Specialist Insurance Providers will offer the best options for you when looking for Keyman Insurance.

What is Keyman Insurance?

Keyman insurance (also known as key person insurance) is a type of business insurance that a company takes out on the life of an essential employee — someone critical to the running of operations, profitability, or stability of the business. If that person were to die or become disabled, the insurance provides financial support to the business.

Key Features:

• Policy Owner & Beneficiary:: The business is both the policy owner and the beneficiary.

• Covered Individual:: The “key person” is typically a founder, top executive, or anyone whose absence would severely impact operations or revenue.

• Payout:: If the key person dies or is disabled, the insurer pays a lump sum to the business.

• Use of Funds:: The payout can be used to:

  • Offset lost revenue

  • Cover recruitment and training of a replacement

  • Reassure investors, lenders, or stakeholders

  • Pay off business debts

  • Facilitate an orderly sale or wind-down if necessary of the business

Who Might Be a "Key Person"?

• Founders or co-founders

• CEOs or high-level executives

• Top salespeople or rainmakers

• Product developers or engineers with specialised knowledge

Find out how our panel of Specialist Insurance Providers who can advise and help find the right cover for you.