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  • Key Person

Key Person

Key Person Insurance

Directors and employees with highly specialist skills or knowledge are key employees of the companies they work for. To lose one as a result of a critical illness or death can be damaging to the business. That is why taking out Key Person insurance to protect the company is a wise move.

Key Person insurances can provide several benefits. These can include:

  1. Paying the costs of a temporary replacement
  2. Meeting the costs of recruiting a permanent replacement
  3. Covering the cost of death or incapacity of a key member of staff.

The full scope of cover will depend on the type of policy purchased but companies ignore the risks of losing key staff at their peril. Shareholders, bank managers, suppliers and customers may not be so laid back.

If premiums are not maintained, then cover will lapse.
The policy may not cover all the definitions of a critical illness. For definitions please refer to the key features and policy document.

Key Person

Key Person Insurance

Directors and employees with highly specialist skills or knowledge are key employees of the companies they work for. To lose one as a result of a critical illness or death can be damaging to the business. That is why taking out Key Person insurance to protect the company is a wise move.

Key Person insurances can provide several benefits. These can include:

  1. Paying the costs of a temporary replacement
  2. Meeting the costs of recruiting a permanent replacement
  3. Covering the cost of death or incapacity of a key member of staff.

The full scope of cover will depend on the type of policy purchased but companies ignore the risks of losing key staff at their peril. Shareholders, bank managers, suppliers and customers may not be so laid back.

If premiums are not maintained, then cover will lapse.
The policy may not cover all the definitions of a critical illness. For definitions please refer to the key features and policy document.

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Company address: Hartley Hepworth Financial Planning Ltd, Howbrook Farm, Howbrook Lane, Sheffield, South Yorkshire, S35 7EH T: 0114 2848808 E: info@hartleyhepworth.com

Hartley Hepworth Financial Planning Ltd is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority.

Hartley Hepworth Financial Planning Ltd is registered in England and Wales, Company No: 04675658. Registered Address: Howbrook Farm Howbrook Lane, Howbrook Wortley, Sheffield, South Yorkshire, S35 7EH

The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

Approver Quilter Financial Services Limited and Quilter Mortgage Planning Limited.05/07/2023

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