Income and cash flow
Consider the potential loss of profit or revenue while the business adjusts. The amount should reflect a reasoned assessment of the risk.
Business protection / Key people
A founder, director or employee may be central to your revenue, specialist knowledge or client relationships. Key person protection can help the business manage the financial impact of losing that contribution.
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Key person insurance generally provides a lump sum to the business following the death of the person insured during the policy term. Critical illness cover may also be available, subject to the insurer’s definitions and terms.
Consider the potential loss of profit or revenue while the business adjusts. The amount should reflect a reasoned assessment of the risk.
Think about the cost and time involved in finding a replacement, transferring knowledge and keeping important work moving.
Borrowing and guarantees may create separate protection needs. We can discuss these alongside key person cover and identify where a different structure is needed.
Ownership and the beneficiary must suit the business and the purpose of cover. Arrangements can differ for companies, partnerships and sole traders. We will discuss your structure, existing policies and how the proceeds would be used.
Premiums and proceeds are not automatically tax-free or tax-deductible. Your accountant should confirm the treatment for your circumstances. MOVA does not provide tax advice.
Please do not send medical information or financial documents through the general enquiry form. We will explain the appropriate route if these are needed.
Life cover pays on a valid death claim. Critical illness cover, if included, pays only when the diagnosis meets a covered condition’s definition. It is different from income protection and does not pay simply because someone is unable to work.
There is no single figure that suits every business. The assessment should reflect the person’s contribution, likely disruption, replacement costs and existing resources.
No. Acceptance, premiums and terms depend on underwriting and insurer criteria. Exclusions or other terms may apply.
A clear next step
Tell Steven a little about the business, the people involved and what you would like to protect.
Professional connections
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