Key Person Protection

Key Person insurance provides a lump-sum should a major stakeholder in the business die or become critically ill. It is a very cost-effective insurance that can help with the cost associated with such a catastrophic event. The insurance has different benefits depending on the type of company.

Sole Traderskey person protection umbrella

It is often the case that the business will end if the key person cannot work through illness or injury, dies or becomes critically ill. Income ProtectionTerm Assurance and Critical Illness cover are all recommended.


If one of the partners dies it is likely their share of the partnership will pass to a surviving spouse or child. We can provide tailored solutions to protect each partner giving peace of mind against the financial consequences of being unable to work through illness or injury or a partner dying or suffering from a critical illness.

Limited Companies

To ensure the business can continue should an employee be unable to work through illness or injury we can help protect the company against the financial burden of long-term illness and recover from the loss of a key employee through critical illness or death.

If a shareholder if effected, the surviving beneficiaries will inherit the shares and will own part of and possibly even gain a controlling influence over the remaining business but are unlikely to have the skills and knowledge to contribute to its continued operation.

It is often in the interest of all parties to put in place an agreement that allows the surviving partners or shareholders of a company to 'buy out' the interest of the deceased partner or shareholder. A cross option agreement backed by an appropriate term assurance policy can provide the deceased’s estate with a lump sum and return the shares to the business.

Setting up these arrangements can be potentially both tax efficient and save enormous stress and disruption to the business and the beneficiaries.

Financial Advice... pure and simple

The Ethical Partnership Ltd provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right times and at the right cost. It's simple!