Have you thought about what would happen to your business if a key shareholder or employee were unable to work due to death, a serious illness or accident? If your business relies on a small number of key people for a majority of business revenue, or you are a key person yourself, you need to consider key person cover.

Who is a key person?

A key-person can be a shareholder or employee who is responsible for generating income for the business. Often, a key person has a set of specialist skills and are vital to the future of the business.

When you consider the impact the loss of a key person may have on your business, you should ask yourself the following questions:

  • How would losing a key employee impact my business financially?
  • What technical knowledge or creative skills would be lost?
  • Could I find a replacement? If so, how long would it take to train a replacement and what would be the associated costs?
  • Will I lose my competitive advantage and how will this affect my market share?
  • Who else cares about the success of my business?

For many small to medium-sized businesses where there are one or two key revenue generators, having key person cover to provide a revenue replacement is essential.

What is key person cover?

Key person cover is designed to provide funds to your business if a key person is unable to work due to illness or injury. The funds received will keep your business running by allowing you to meet business expenses or covering the costs of a replacement employee – allowing the continuation of cash flow and business operations while the afflicted key person is away. In many cases, any payment received is not offset by any ACC benefit.

If you would like to learn more about protecting your business through key person or shareholder insurance , click here to speak to an experienced adviser who understands what business insurance is all about.

Important: All information on this site is of a general nature only. When you compare or complete the assessment online, we will connect you with an advisor who can give you advice at no charge. All advisers who are authorised to use this site, for their marketing purposes, are authorised financial advisers. A full list of advisers and what they can advise on is listed here under our terms & conditions of this site usage.

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Quick and easy, actually listen to what I wanted and didn’t try and push anything else on to me
Well knowledgeable and prompt when responding to queries
At first I was skeptical but after doing a little reasearch on The Mortgage and Insurance Shop, there was nothing but positive reviews.Blake really went above and beyond to provide me with as many costs/quotes that suited my financial situation. He provided all the information I needed and explained everything, he made sure I was covered in all the areas I needed and provided great support. He's super knowledgeable and very efficient.I highly recommend Blake, he's amazing!
Blake really helped me understand how the Insurance scene works in New Zealand. The service was prompt and to the point. Would absolutely recommend him to all who need to make informed choices.
Hayley Evans is highly recommended broker, very professional communication excellent Hayley was able to help what I wanted I would recommend Hayley to others. My only regret was I did not do this sooner. Talahiva Riggs
Very helpful and knowledgeable
Easy to deal with and got the right insurance, thanks Hayley
Nicole was a great help and had lots of knowledge.I did not feel rushed and was given options, that at the end of the day was my decision.Very happy with how everything worked out and highly recommend!
Great service and follow up 💯
Hayley was professional and accommodating to everything we requested. She helped with multiple revisions to our insurance quotes and was easy to get hold of and quick to respond. It's great having that personal assistance when dealing with multiple policies etc. Thanks
Awesome service! Highly recommended! Caring and friendly, made every step so easy and stressfree! Go Hayley!!!!! Thanks for all your help!!!!
Blake was very knowledgeable and easy to deal with, definitely recommended!
Hayley was a breeze and lovely to deal with highly recomend
Being a super busy person I had tried to get life insurance in the past and put it on the back burner because of how much time it took up. My partner got a hold of these guys and I had Hayley contact me. Hayley was absolutely amazing to work with. She would call me and tell me in layman’s terms what I needed to do. Thank you heaps Hayley!!!
An excellent company! All throughout the process, excellent customer support. The group goes above and above at every stage and is incredibly knowledgable. They are something I wholeheartedly recommend.


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