Key Person Protection
Financial protection against the loss of an individual who is critical to the organisation.
Keyman Insurance
Protect The People Who Drive Your Business Forward
Key Man Insurance helps businesses protect themselves against the financial impact of losing a key individual whose expertise, leadership, relationships or contribution is critical to the organisation’s success.
Business Continuity Protection
Protection Against Revenue Loss
Key Person Replacement Support
What Is Keyman Insurance?
Understanding Keyman Insurance
Key Man Insurance is a life insurance policy taken by a business on the life of an individual whose skills, experience, leadership, relationships or specialised knowledge are considered critical to the organisation. The company is generally the policyholder and beneficiary, subject to the policy structure and applicable regulations.
What Does It Cover?
- Key Person Death Benefit
- Business Continuity Protection
- Revenue & Profit Protection
- Recruitment & Replacement Costs
- Outstanding Financial Commitments
Example:
A company relies heavily on its Managing Director, who is responsible for major client relationships, strategic decisions and a significant portion of the company’s revenue. If the Managing Director passes away unexpectedly during the policy term, the business may face revenue disruption, replacement costs and loss of key relationships. A Key Man Insurance policy can provide a financial benefit to the company, helping it manage the immediate financial impact and maintain business continuity, subject to the policy terms.
Coverage Components
Comprehensive Protection for Your Business
Business Continuity
Helps the company manage operational and financial disruption following the loss of a key person.
Revenue Protection
Provides financial support against potential revenue and profitability impact.
Replacement & Transition Costs
Helps meet potential recruitment, training and transition expenses.
Financial Commitment Protection
Supports the business in managing financial obligations during a period of transition.
Customised Coverage
Coverage can be structured based on the business’s dependency on the key individual and its financial requirements.
Advisory Support
Protect Your Business Before the Unexpected Happens
Our specialists structure cover around your needs rather than relying on a standard policy.
- 1.
Key Person Identification & Risk Assessment
We understand the organisation, identify critical individuals and assess the potential financial impact of losing them.
- 2.
Coverage Structuring & Placement
We help determine an appropriate coverage structure based on the key person’s contribution and the business’s financial exposure.
- 3.
Policy Documentation & Support
We coordinate the documentation and policy placement process to ensure smooth implementation.
- 4.
Claims Assistance
In the event of a claim, we assist with the claims process and coordinate with the insurer for timely resolution.
- 5.
Annual Policy Review
We periodically review the coverage to keep it aligned with changes in the key person's role, business value and financial exposure.
Protect the People Who
Make Your Business Stronger
Secure your business against the financial impact of losing a key individual.
Frequently Asked Questions
Answers to Common Insurance Queries
The business must demonstrate the financial impact of losing a key individual whose skills, relationships, leadership or specialised knowledge materially contribute to the organisation.
The assessment may consider contribution to profits, replacement costs, revenue impact, business relationships and the financial consequences of the individual's absence.
Equirus Raghnall evaluates the individual's role, financial contribution, business dependency and policy requirements before coordinating the appropriate insurance structure.
Equirus Raghnall coordinates the required financial, corporate and individual information and works with insurers to present the risk appropriately for underwriting.
