Key Person Income Protection

No one wants to worry about what might happen to their business if a skilled employee can't work because of an injury or illness.

Our Key Person Income Protection, through our Business Menu Plan, pays out a monthly income at the end of the chosen deferred period if a key person is unable to work because of an illness or injury and meets our definition of incapacitated.

The monthly income could cover the amount of profit that this key person would have been bringing into the company, and therefore help your clients continue to pay any bills or ongoing business expenses.

Benefits of our Key Person Income Protection

  • Choice of payment periods – your clients can choose from one or two years, allowing them to tailor the cost to their business needs.

  • Cover increase options - your clients can increase their cover in certain circumstances, without giving us any medical information.

  • Choice of deferred periods – your clients can choose a deferred period of 4,8,13,26 or 52 weeks, after which we'll start paying the monthly premiums.

  • Reassuring - we'll cover up to 75% of the gross profit attributable to the key person, up to a maximum of £250,000 a year.

  • Personal support - Our Helping Hand Support Service provides access to independent support including a recruitment helpline which can help with sourcing cover for a key member of staff as well as a legal helpline which can help with questions around employment law. The service also gives your clients, and their partner and children, access to practical and emotional support on their journey towards recovery.

  • Waiver of Premium (Sickness) - included automatically.

Get a quote or find out more information

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This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.