Key Person Insurance | Business

KEY PERSON PROTECTION

Business continuity starts with key-man cover.

Key Person Insurance (key-man cover) is designed to ensure your company can continue to operate and recover financially if a key person dies or becomes seriously ill.

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We understand key person insurance

For many businesses, the death or diagnosis of a serious illness affecting a key person can lead to significant disruption, loss of revenue and increased costs.

A Key Person Insurance policy provides a lump sum to the business if a key individual dies or is diagnosed with a specified critical illness during the term of the policy. The funds can help your company:

Protect cash flow and maintain financial stability
Cover loss of profits or reduced turnover
Repay business loans or overdrafts linked to the key person
Recruit and train a replacement
Reassure lenders, investors and stakeholders

At Pangea Life, we provide tailored Key Person Insurance solutions to meet the needs of commercial clients across a wide range of sectors. We work with leading insurers to arrange competitive premiums and ensure your cover reflects the financial value of your key people.

FREQUENTLY ASKED QUESTIONS

What is Key Person Insurance?

Key ir income and family is protected.

If you want to know more information please call us on 02382354354 or email enquiries@pangealife.co.uk
Who should a business consider as a key person?

A key person is anyone whose skills, knowledge, leadership, or client relationships significantly contribute to company profits. This often includes directors, founders, senior sales professionals, technical specialists, or individuals responsible for securing major contracts.
What can a Key Person Insurance payout be used for?
A claim payout can help a business:
- Replace lost profits or stabilise cash flow
- Repay business loans or director guarantees
- Cover recruitment and training costs
- Reassure lenders, investors and key clients
- Fund restructuring during a difficult period
Are the premiums tax deductible?
There are three guidelines called the ‘Anderson Principles’ that determine if premiums are tax deductible:
1. There must be an employer, employee relationship
2. The policy should only last as long as the key person is crucial to the business
3. The policy is intended to meet loss of profit