Key Man Insurance & Business Protection

Helping to protect businesses against financial losses incurred from the loss of a Key Person

Business Protection Insurance offers a number of different policies to help protect businesses against financial losses incurred from the loss of a person due to death, critical or terminal illness.

There are number of different types of Business Protection Insurance available:

  • Key Man Insurance (or Key Person Insurance)
  • Business Loan Insurance
  • Directors/Partnership Protection
  • Relevant Life Insurance

Your Business Protection policy will depend on your individual business needs and set up. To speak with one of our advisors, contact us today!

  • Award Winning In-House Claims Team
  • Lloyds of London Commercial Broker
  • Independent Broker Since 2001


A specific cover that helps support a business should anything happen to any key persons in the company. If a business’ most valuable employees suddenly passed away or became terminally ill, the policy works by protecting the business against any financial impacts.

Money is paid to the business to help cover costs for replacing staff, covering profit losses and any other financial implications as a result of suddenly losing a key person in the company who is a key income generator. This can often make a huge difference to the survival and success of a business.



It covers businesses who lose a vital member of staff or Director suddenly due to death, critical or terminal illness. Policies provide cover to businesses by paying out a lump sum of money to help cover profit losses, loan repayments or recruitment.

Losing a key person suddenly can mean the difference between a business surviving or not and Key Man Insurance works to provide business protection to help against potential profit losses and other unavoidable financial losses.

Key Man Insurance isn’t a legal requirement, but is considered a strongly recommended insurance policy for business protection.


Anyone is who is deemed essential to the financial success of a business. This can also include those who might generate a large amount of income for the business, as well as those who have a very specialist or niche skill or expertise.

If any of these people died, suffered a life-changing injury or became critically ill, meaning they could no longer work, a business could experience a significant financial impact.

Their absence could mean that a loan repayment can’t be made, a significant project can’t proceed, or substantial number of customers are lost.

If you have any people in your business who this would apply to, then you should consider Key Man Insurance.

Still not sure if your business would be eligible for Key Man Insurance? Contact our expert teams today to find out the best business protection for you



Some scenarios of cover do allow tax deduction.

You can claim tax relief on the premiums as long as the person being insured is not a shareholder of the business and the following details apply:

  • Policy term 5 years for less / can have 5-year renewable term
  • Employee of the business that’s paying the premiums
  • Cover anything except loans

If you would like to know more about Key Man Insurance and tax deduction, please contact one of our experts or call us on +44 (0) 1905 27775.


The cost of will depend on the individual/s being insured and how much they might be responsible for. At SJL Insurance Services, we build bespoke policies for our clients. We get to know your business and its individual requirements to build cover that protects you. It also means that you’re only paying for the cover you need.

Looking to find out how much Key Man Insurance and Business Protection might cost for your business? Get in touch with our teams or complete our ‘get a quote’ form to find out how we can help protect your business today.

Get a Key Man Insurance & Business Protection quote for the cover you need,
and have peace of mind knowing that you're protected.

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