Key Person Insurance Plymouth – Safeguard Your Business with Mortgage HQ
Behind every successful business, there are people who keep things running. But what happens if one of those key individuals is suddenly unable to work—or worse, passes away? That’s where key person insurance steps in. At Mortgage HQ, we help businesses across Plymouth, South Hams and wider UK put the right protection in place to keep things going when the unexpected happens.
What is Key Person Insurance?
Key person insurance is a life insurance policy a business takes out on an employee who is essential to its success. If that individual becomes critically ill or dies, the policy pays out a lump sum to the business. This financial cushion can help your company cover lost income, recruit a replacement, or simply stay afloat while navigating a difficult time.
A key person could be:
A business owner or founder
A sales manager responsible for major accounts
A lead technician or engineer with specialised knowledge
Anyone whose absence would significantly affect business operations
What Does Key Person Insurance Cover?
The cover typically includes:
✔️ A lump sum payout if the key person dies or is diagnosed with a critical illness
✔️ Financial support to cover operational costs, lost revenue, or recruitment
✔️ Optional critical illness cover for added protection
✔️ Peace of mind for directors, shareholders, and business partners
Is Key Person Insurance a Legal Requirement?
No—it’s not legally required. But for many businesses, it’s a crucial safety net. If your success depends heavily on one or two individuals, key person insurance can help ensure the company survives without them. It’s a form of business continuity planning, not just financial protection.
It can also offer reassurance to investors, lenders, and shareholders who want to know there’s a plan in place if something happens to a business-critical team member.
Why Choose Mortgage HQ for Key Person Insurance in Plymouth?
We know small and growing businesses don’t always have the time or resources to explore every insurance option. That’s where we come in. At Mortgage HQ, we make it simple.
✅ Personalised Advice
We’ll work with you to understand your business structure, key team members, and the financial impact of losing one of them.
✅ We Work With Leading Insurers
We partner with trusted UK providers to find the right level of protection for your business—without overselling or overcomplicating things.
✅ We Get the Bigger Picture
If we’re already helping you with commercial lending or other insurance, we can tie it all together in one joined-up plan.
✅ Friendly, Local Support
As a Plymouth-based team, we offer straightforward, honest advice and we’re here when you need us.
Get Key Person Insurance Advice in Plymouth
Don’t leave your business exposed to the unexpected. If you rely on certain people to keep your business going, it’s time to consider key person insurance.
If you require help getting key person insurance for your business, get in contact with us using the contact form at the bottom of this page.
Let Mortgage HQ help you protect what matters most—your people, and the business they’ve helped you build.