Life insurance for business continuity
Funds to help sustain the business following the death of an insured key person.
Key person insurance
Financial support for your business if a key person dies.More information
Financial support to help your business continue after the loss of a key colleague. We help arrange life insurance around the roles and relationships that matter to your organization.
Key people & fidelity
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Protection for your business
More about this coverage
Key person life insurance provides funds for business continuity following the death of an insured colleague. It can help sustain operations, support your team through the transition and meet commitments between partners.
Key person life insurance gives a business financial support following the loss of an insured colleague. The funds can help maintain operations, support recruitment and training, and provide time for the team to adjust.
Insurance can also help fund commitments between partners when arranged alongside the relevant legal agreements. We identify who receives each benefit and keep the business’s protection distinct from life insurance for the colleague’s family.
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01People and continuity 01 / 03Life insurance for key people
Essential people
Protection arranged around key contributions to leadership, sales, relationships and specialist knowledge.
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02Recruitment and training 02 / 03Support during a team transition
Transition expenses
Financial support for operating expenses while the team reorganizes following an insured loss.
Recruitment and training
Funding to help your business recruit and train someone for a key role following an insured loss, supporting the team as it adjusts.
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03Partners, terms and commitments 03 / 03Partner agreements and policy term
Partners and commitments
Funding to support commitments between partners, coordinated with any share-purchase agreement and your legal advisers.
Duration and payment structure
Life insurance options with a duration and payment structure suited to the business’s plans and budget.
Each proposal has its own scope. Before you choose, we confirm the benefits and limits offered and explain them to you.
Start with your situation
What we review together.
These details help us compare suitable options. We can start with a conversation and help you gather the documents.
- Critical people and roles, business ownership and partner agreements.
- Business revenue, staffing needs and transition expenses.
- Existing protection, intended period and budget.
How Mint supports you
A plan that fits
We compare options for your business.
Policies and changes
Help keeping your policy up to date.
Claims support
Guidance and follow-up when you need it.
Renewal
We review your needs before renewal.
Common questions.
Does the family or the business receive the money?
It depends on the purpose of the policy and who is named to receive the benefit. Key person insurance is arranged for the business’s financial needs. If you also want protection for the family, we review that separately.
Does the policy replace a shareholder agreement?
Insurance can help fund the commitments in a shareholder agreement, but it does not replace the legal agreement itself. We work with your legal advisers on the funding the agreement calls for.
Is salary enough to calculate the sum?
Salary is one consideration. We also consider the funds needed to maintain operations, support the team through a transition and fulfill business commitments. This helps you choose an appropriate amount of protection.
Can it coordinate with individual life insurance?
Yes. We identify the purpose and beneficiary of each policy, keeping family protection separate from the business’s needs.