Key Person Cover

Key Person cover is life insurance (which can also include critical illness cover) taken out by a business on the life of someone crucial to the business. It provides a financial safety net if a key member of staff dies or is diagnosed with a serious illness (if Critical Illness Cover is included). The proceeds from the policy are paid directly to the company or partners, helping them to protect their profits or clear business debt to continue trading as normally as possible.

What is a key person?

A key person is any member of staff who has a direct impact on the business’s profits, such as the business owner, director, salesperson or any employee with specialist skills or expertise.

For more information please contact Southern Financial Services on 01698 269 977 or email enquiries@southernfs.co.uk and we will be happy to assist you.

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Founded in 1998, Southern Financial Services is an independently owned, family company that prides itself in offering easy to understand, professional advice to clients both across Scotland and throughout the UK.