Your people

A growing business validates all the hard work and planning you put in place to get to that point. Customers are coming to you, you’re developing new offers that are resonating with your market, and you’re bringing on new staff. 

So what happens when you lose a Key Person?

When your business loses a key staff member due to illness or injury, major trauma, permanent disablement or death it can have an impact on your business

Most business owners arrange insurance to protect the buildings, equipment and other assets – but can forget their most important asset - the key staff members.

Although every staff member in your business is important, there may be a key person that is critical to your trading operations. How would your business cope if a key person was unable to work due to illness or injury, major trauma, permanent disablement or death?

Who is a key person?

A key person in your business provides the ideas, drive, initiative and particular skills that generate essential revenue and profit. They could be:

  • The founder and/or owner who provides direction, momentum and builds your business’ reputation.
  • A specialist, such as a designer, whose skills and knowledge are vital to business success.
  • A top performing sales person who builds key relationships and business contacts.

Key person Insurance

The loss of a key person (due to illness or injury, major trauma, permanent disablement or death) can impact your business revenue, expenses and relationships. This could ultimately impact the value of your business.

Key person protection can help protect the value of your business by providing critical cash flow to help you:

Keep your business doors open

It can help offset the impact on sales by supplementing lost revenue through a monthly benefit while a key person is unable to work due to illness or injury. A lump sum payment through Trauma, Life or Disability insurance can provide cover for events that are not included in key person protection.

Fund your ongoing business expenses

The monthly benefit can be used for any business purpose to keep things running smoothly. This could be meeting ongoing expenses or covering the cost of finding replacement staff.

Plan for the future

Careful planning can help you ensure that you can manage the loss of a key person and minimise the resulting financial impact. Being prepared can help you to protect the value of the business that you have worked hard to build.


The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstance