FREEÂ expert help & advice 0800 083 2829
Contact our specialist team for FREE expert help & advice 0800 083 2829
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Key Person Insurance protects businesses against the financial loss that could occur from the death or injury of an important individual within a company.
You want to be matched with the right insurance provider. We want that too. That’s why we focus on finding you the perfect policy that protects you and your family. Our access to Mainstream and independent insurers means that we can find the right policy for you.
At The Insurance Surgery, we specialise in helping you find the right insurance policy to protect your business. With a wealth of experience in business and personal protection, we have assisted 85,000 customers since 1999.
As experts in business insurance, we have access to a wide range of insurers. We originally started as a broker for Crohn’s Life Insurance, and now, 25 years later, we cover over 548 different medical conditions.
Key person insurance will pay out due to death, illness or injury of a crucial team member. The potential impact of losing a main person within a company could have a great impact on your business, employees, and revenue streams.
In such situations, the payout from the key person’s insurance policy can be instrumental in covering various financial obligations of the business, including:
Is the average amount paid to customers from UK business insurers per day {1}.
of UK businesses would cease trading if a key person died or was unable to continue working {2}.
Typical key person policyholders include:
Businesses across various sectors such as finance, technology, and professional services are common users of key person insurance.
This is the primary method for calculating a key person’s worth.
Uses gross salary, including benefits, to estimate the amount needed to replace a key person.
Considers the key person’s contribution to business turnover – calculate using the below formula:
The cost of key person life insurance can vary, but here are a few examples to give you an idea:
We recently found key man life insurance for a business looking to protect against the loss of a Director aged 55 years old, living with no medical conditions:
In 2024 we found life cover for a Co-Founder & Director of a tech company. The individual is not a UK resident (living in the USA) and lives with sleep apnoea and pre-diabetes.
To apply for key person life insurance, simply follow the steps below and we’ll do the rest:
Andy Mellor, Managing Director.
Key person life insurance can provide a multitude of benefits to a business. To understand if this type of insurance is right for your company. Consider the following questions:
1. Could the company continue trading smoothly?
2. What are the wishes of the remaining shareholders?
3. What would be the cost to replace such a key person?
4. Would they prefer to sell their share to a third party?
5. Would the surviving spouse or beneficiaries want to get involved in the business?
6. How would the business cope if a shareholder or director passed away or faced a critical illness?
*Price Promise terms and conditions:Â
These terms and conditions are promoted by the Insurance Surgery, whose registered office is at 2nd Floor Pickford Street Mill, Pickford street, Macclesfield, SK11 6JD.
To be eligible for a gift card you must be a UK resident aged 18 or over.
In order for you to receive the voucher, you will need to have a minimum monthly premium of £20 and the policy to be live for a minimum of three months.
You must make all payments to your policy each month and in full.
If the policy taken out falls into arrears or lapses, then you will not be eligible for a gift card.
This offer is valid until 31st March 2025. However, should we decide to extend the offer, we reserve the right to do so, updating our terms and conditions accordingly.
The gift card is issued via Lifestyle and can be used at more than 250 of the UK brands. For more details about the brands included, please visit thelifestylevoucher.co.uk. By clicking this link, you will be leaving the regulated site of The Insurance Surgery. The Insurance Surgery is not responsible for any content posted by a third party within a non-regulated site.
You will be sent a link to claim your gift card. The gift card will expire 2 years after being issued and any outstanding balance will be lost; No cash alternative will be offered.
We reserve the right to refuse issue of the gift card should we suspect foul play; We reserve the right to cancel or modify these terms and conditions at any time and at our sole discretion; Our Privacy Notice explains how your data will be used.
Copyright © 2025 The Insurance Surgery Ltd. The Insurance Surgery is authorised and regulated by The Financial Conduct Authority. We are entered on the Financial Services Register No 401425 at https://www.fca.org.uk Registered in England and Wales. No 5137288. Registered and trading from 2nd Floor, Pickford Street Mill, Pickford Street, Macclesfield, SK11 6JD The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Price promise terms & conditions: Please read our price promise terms and conditions which will tell you more about our promise.
