Understand the risk
We identify who depends on you, what is already covered and the financial gap that remains.
SPECIALIST PROPERTY FINANCE
Key person insurance
Help protect the business if a vital employee, founder or revenue-generator dies or becomes critically ill. Speak to an adviser who will assess your full circumstances, not just a headline number.
No obligation · Initial conversation does not affect your credit score
Written and reviewed by Smart Mortgages specialistsReviewed 21 August 2026 · FCA reference 912358
How we help with key person insurance
Good protection advice starts with the financial impact you want to guard against. We assess needs, existing benefits, budget, policy quality and underwriting before recommending suitable cover.
Compare suitable options
We compare policy definitions, benefits, exclusions, underwriting and cost, not price alone.
Put cover in place
We manage the application and explain any terms offered before the policy begins.
Protect the business from losing a vital person
Key person insurance is owned by the business and can provide funds if a specified employee, founder or revenue generator dies or suffers a covered critical illness.
Identify the risk
Assess the financial impact of losing a person central to revenue, relationships or operations.
Set the cover
Use profit contribution, replacement cost, borrowing or other evidence to support the amount.
Business ownership
The company normally owns the policy, pays premiums and receives any valid benefit.
Continuity plan
Decide how funds could support recruitment, debt, cash flow or transition.
Your Smart Mortgages contact
Aaron can coordinate business-protection enquiries with the appropriate protection specialist.
Protect the business from losing a vital person FAQs
Who owns a key person policy?
The business normally applies for, owns and pays for the policy, with the key person insured.
How much cover can a business obtain?
Insurers assess the financial loss, evidence and purpose of cover rather than using one universal formula.
Are premiums tax deductible?
Tax treatment depends on the arrangement and purpose. The company's accountant or tax adviser should confirm the position.
Specialist knowledge that can make the difference
Our team regularly works with key person cover, business continuity and critical illness protection. Policy wording and underwriting can differ significantly, so we compare suitable insurers and explain important limitations before you apply.
Frequently asked questions
Will I need medical underwriting?
Most personal protection applications include health and lifestyle questions. The insurer may request additional medical evidence depending on the cover and disclosures.
Can existing cover be reviewed?
Yes. We compare what you already have with current needs before considering whether any change is appropriate. Existing cover should not be cancelled until replacement cover is accepted and in force.
Can you help throughout the UK?
Yes. Our protection team supports clients across the UK by telephone and video as well as through our branches.