Key Person Insurance

As a business owner you will have protected your business against various risks. But have you protected against the impact the loss of a key person would have on your business?

You will no doubt have insured your premises and stock against fire and theft. And if you employ people, you will have employers’ liability insurance to protect against the cost of providing compensation to an employee if they are injured at work. But have you protected yourself from loss of a key person in your business?

A key person is an individual whose continued absence would affect the profit and the continuity of the business. This key person may be you, or it could be your most profitable sales person. Whoever it is, the loss of that person could have a devastating effect on your ability to continue running your business.


One solution is for your company to take out life assurance and critical illness cover on the lives of its key people. This will help to compensate your business for any loss of profits, should a key person die or be diagnosed with a critical illness.

An income protection plan may also be set up on the same basis. This will provide the business with a regular income if a key person is absent for an extended period due to illness or injury.

Cooper Associates offers tailor-made business solutions that could help protect your business in the event of the death, or serious illness, of a key individual or business partner.

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