Who is a Key Person?

This is any member of staff who has a direct impact on the business’s profits. It could be the business owner, director, sales person or any employee with specialist skills or expertise.


Losing a key person can be disastrous for the long-term survival of a business. Although clients can’t predict the future, Key Person Cover can protect against the following business risks:

Protect Profits:

  • Recruitment costs to find a suitable replacement

  • Loss of profits whilst the business is disrupted

  • Paying penalties for non or late delivery on goods and services

  • Paying any company sick pay to the key person if the claim is related to a critical illness

Protect Debts:

  • Being unable to repay a loan

  • Paying back a business overdraft

  • Nervous suppliers may demand payment of an account up front

  • Covering owed salaries, dividends or loaned money through a director's loan account

  • Key Person Cover can protect sole traders who are personally liable for business debt. If they died expectantly, any debt would be inherited by their next of kin.

Life View Financial Planning is a trading name of Financial Solutions Group Limited, an appointed representative of Prydis Wealth Limited, which is authorised and regulated by the Financial Conduct Authority, Registration Number 432014 

Life View Financial Planning, Registered in England/Scotland/Wales No. 12668684

Registered Office:

2B Haddo Street,

Greenwich,  London, SE10 9RN

© 2019 Roy Dravid