Every business has a few people it simply couldn’t run without – think founders, top salespeople, or someone with specialist skills or deep company knowledge. If one of those key people were suddenly unable to work due to serious illness or passed away, it could hit the business hard – both emotionally and financially.

That’s where Key Person Insurance steps in.
This type of cover helps protect your business from the financial fallout of losing a crucial team member. If a key person becomes seriously ill or dies, the insurance pays out a lump sum to the business – giving you the breathing room to keep things running.

Why it matters
For small to medium-sized businesses, losing a key person can mean:

        

Key Person Insurance is one of the smartest ways to protect your business from the unexpected.

KEY PERSON INSURANCE

Without a plan in place, it can be really tough to bounce back.
 
How does it work?
The business takes out a policy (like life, trauma, or income protection) on the key person, pays the premiums, and if something happens, the business receives the payout. It’s not for the employee’s family – it’s there to support the company while it finds a way forward.
 
Who counts as a "key person"?
A key person is anyone whose absence would cause real disruption to your operations or income. This might be:

A business owner or co-owner
Someone in a leadership role
Your top-performing salesperson
A specialist with hard-to-replace knowledge or experience

A specialist with hard-to-replace knowledge or experience

Someone in a leadership role        

Your top-performing salesperson

What does Key Person Insurance help with?
The payout can be used however the business needs – whether that’s covering temporary losses, hiring and training a replacement, or even keeping debt repayments on track. It gives you time and financial stability to regroup without rushing big decisions.

Bottom line?
Key Person Insurance gives your business a Plan B. It’s not just about protecting profits – it’s about protecting the people and the purpose behind your business.
Want to know if your business could benefit from it? Let’s chat – no pressure, just straight-up advice.

Book a free chat with Diana and let’s get your business safeguarded.

A drop in revenue

Loss of vital skills or industry know-how

Delays in projects or delivery

Difficulty keeping client relationships going

A business owner or co-owner

Extra costs to recruit and train someone new

Even losing access to credit or investor confidence