Key Person Insurance (Key Man)
4/5 Sole Traders say there is someone in their business they couldn’t do without. Yet 80% of small businesses aren’t protected for their loss.
– Scottish Widows
What You Get With Key Person Insurance
- It’s inexpensive and crucial for continuity.
- The company will receive a sum of money to cover any loss in revenue.
- It can help with recruitment.
- Sustain the key person’s salary whilst hiring a replacement.
- Avoids the need to borrow money.
- Reduces stress and tides you over a difficult period.
Frequently Asked Questions
Once a policy is submitted to the underwriter it can be either accepted on standard rates, loaded, with an exclusion, postponed or declined. It is not possible to know the exact price of the policy until this process is completed, but even at this stage there is no obligation to buy until you are happy.
Taking out a longer term premium will guarantee the rates (if you take out guaranteed rates) and means you do not have to renew the policy.
Key Person Insurance can mean the difference between a business surviving an unexpected illness or death, and not.
Recruitment costs an average of £5000 per position, and that’s just finding the solution!
Key Man Insurance covers you from the financial implications of long term sick leave, permanent absence or death of your most vital members of staff.
How much would your business suffer if you lost a key member of staff through illness or death?
Unbiased & Independent Insurance Providers with Your Best Interests at Heart
We’ve learnt all the jargon, so you don’t have to.
Monday to Friday / 8:30am to 5:30pm
An out of hours service
is monitored for callbacks
We’ll Call You Back
Need more information? Speak to us.
Send us your number, we’ll do the rest.
"- Jan from Newton Abbot , WCHC Customer…product knowledge is second to none and [Susie] spent many hours arranging the best deal for us and explaining all the jargon in words of one syllable. All the form filling and other minutiae was taken care of for us and whenever we have a query or problem there is always a cheerful and knowledgeable person on the end of the phone…I cannot recommend Susie highly enough, she is super efficient [and] extremely knowledgeable."