Key Person Protection
Lutine’s Key Person Protection cover is designed to help protect businesses against the impact of the death of their most integral employees. The benefit is paid directly to the business to help them continue to trade.
We have over 30 years’ experience in providing Life Insurance protection to businesses. Our team of experts are on hand with their empathetic and professional approach to service, in your time of need.
Who is a Key Person?
A keyperson is typically defined as someone who is crucial to the financial success of a company. Although hard to define, it can be the business owner/ founder; someone who integrates the company strategy, or even the top salesman at the company. A key person is any individual deemed to be critical a business.
The typical roles covered in Lutine’s Group Life keyperson schemes are Owner/Founder, IT Manager, Operations Manager, CEO, the list goes on. Every business is unique, so consider what individuals are integral to your business's success.
Why consider Key Person Protection?
Although something nobody wishes to contemplate for their business, Lutine’s Key Person product will help businesses following the loss of a key person.
The benefit helps to compensate for their loss of experience, skill, knowledge and/ or leadership
qualities. Therefore it can be used to assist in the following:
- Used to address a reduction in gross profits.
- Helps with the costs of hiring a replacement employee.
- Support for ongoing loan payments.
Benefits Available
- Lump sum benefit paid directly to the business, to be used as the business wishes.
Scheme size
- 3 Lives Minimum, No Maximum
Policy Cease Age
- Up to a maximum of 75 years of age available
Free Cover Limit
- 10 lives or less: no free cover limit – all members subject to medical underwriting for full benefit.
- More than 10 lives: free cover limit calculated based on total sum assured/scheme members - Medical Underwriting in this case will only apply above the FCL or for those who do not fulfil the AAW criteria.
Contact Us
Here at Lutine we endeavour to reply to all enquiries as quickly as possible; to help us to ensure that your enquiry is routed to the right place, please provide us with as much information as possible.
If you’d like to discuss Shareholder/Protection Insurance, please call us on 0344 854 2074 or email customerservices@lutine.com
Important Resources
If you’re interested in applying this employee benefit, please complete our application form
Group Life Application FormDownload our Members Declaration form here
Group Life Member DeclarationPlease complete the questionnaire as part of your application
Business Covers QuestionnaireA range of Group Life protection policies
Take a look at the range of products offered by our Life Insurance team.
Group Life Insurance
For employers wishing to help protect their employee's loved ones in the event of their death.
Shareholder / Partnership Protection
Group Shareholder/Partnership Protection cover designed to help protect businesses against the impact of the death of a Shareholder or Partner.
Key Person Cover
Protection to help businesses against the impact of the death of their most integral employees.