Key Man Insurance

Owning your business


Are your key assets protected?

Why it’s crucial to protect your business

You’re passionate about your business, so you’ll want to protect it the best way you can. 

In the same way you would protect the financial future of your loved ones, it’s essential to protect your partners and they key persons vital to your business success.

Successful businessmen understand that after years of hard work, they need to protect their company and employees for long-term growth and stability.

Below are the key challenges that could be facing your business, with recommendations on how you can protect against these. 


A key person is an employee whose expertise, knowledge and experience are key to the company’s continued financial success.

A key person may include

How does it work?
If something unexpected happens to a key person, your key person protection policy will pay your company a cash lump sum for the amount insured.


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You and your partners are the foundation and driving force behind your company’s success. What would happen if one of them dies, suffers a critical illness or becomes permanently disabled?

It’s important to protect the livelihood of the business by ensuring you, your partners and their shares are protected in the interest of the business.

How does it work?
Partnership protection ensures that upon the death of a business partner, a cash sum equal to the value of the deceased partner's shares will be paid out to the remaining partner(s).

The money can then be used to buy shares from the deceased's family. Partnership protection however, does not enforce the sale of shares. For this, you should set up a legal framework*.


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*One possible solution for a legal framework is a double option agreement, which enforces the sale of shares by either side (the family and the partners). We can provide you with a draft agreement for consideration by your legal advisers. You should discuss your responses with them first to ensure all legal considerations are accounted for. Please contact your financial professional for a copy of this agreement.


If your company has taken out a business loan from the bank, the death of one of the directors or partners could cause the bank to recall the loan, often suddenly. To ensure you can settle the loan without disrupting the cash flow and livelihood of the business, it’s important to consider loan protection.

How does it work?
In the same way that personal protection can repay a mortgage on the death of a property owner, business protection can repay a loan on the death of a business owner, partner or key person.




Click here to access the customer guide, ' Are your key assets protected? ' It provides more information about key person protection including case studies and possible solutions.