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Keyman Cover: What Happens to Your Company If You’re Not There?

Key-person insurance can provide the business with cash after a covered death or disability of a named person, helping with debt, recruitment or disruption while the company adjusts.

What to check

Document why the person is key, estimate the financial exposure, identify the policy owner and beneficiary, and align the cover with shareholder and employment agreements.

What could change the answer

A multiple of salary or a large maximum amount is not universal. Underwriting, insurable interest, tax and legal treatment require professional review.

A practical next step

Quantify one credible loss scenario and obtain written legal, tax and insurance advice on the proposed structure.

Reviewed 2026-09-09