Key Person Insurance
Key Person Insurance
Get peace of mind knowing that your business is secure, no matter what happens to you and your management team. Key Person Insurance, often referred to as Key Man cover, offers a range of benefits:
- Protect your business in the event that you’re no longer able to work.
- Cover loss of profits
- Cover cost of hiring a replacement.
- Cover costs of bills and overheads
- Standalone ‘death only’ cover or include critical illness.
- Flexible terms available from 5 years
- Pay out can be arranged as lump sum or monthly instalments
- Potentially tax deductible as a business expense. (Please speak to your Accountant)
Key man cover
Bespoke insurance and risk management programmes for all sizes of business
What is Key Person Insurance?
Most businesses are successful as a result of the hard work put in over the years by an owner or a dedicated management team. But what happens if the owner, or a key member of staff is suddenly unable to work?
Research suggests that 46% of businesses would not survive without the input of their ‘key person’. Key Person insurance is designed to protect a business from financial losses in the event that a key team member cannot work. Key Person insurance pays out either a lump sum or can be arranged so that payments are made monthly for a pre-determined period of time. Payments can be arranged to cover bills and business overheads as well as potentially covering costs accrued in hiring a replacement.
Does every business need Key Person insurance?
Potentially, yes. BJP Insurance is a long established, leading independent UK insurance broker. Please talk to one our Brokers to discuss your needs and opportunities.
Talk to the BJP team today
For independent advice and fast quotes for your key person insurance requirements
Insure with us and you’ll also have access to value added services including:
- A dedicated account handling team ready to assist with any queries you may have.
- Full legal expenses cover included incase proceedings are raised against you.
BJP use a full fact-finding service to establish your full key man insurance demands and needs in order to offer you the most comprehensive insurance at the most competitive premiums. Our experienced broking team utilise a complete panel of insurers and utilise this service to provide further discounts to premiums.
BJP are an independent business insurance and commercial insurance broker. We specialise in obtaining insurance quotes from a wide range of different insurers to ensure that we get the best possible key person cover at the best price. Our brokers have lots of experience in arranging cover to meet our customers’ requirements.
To receive a quote, or to seek advice from one of our insurance advisers, please complete the enquiry form and we’ll be glad to assist you. An adviser will contact you within a working day to discuss your requirements. Or you can call us on 0345 365 2121 to obtain further information or for a full quotation to suit your needs.