Compare Key Man Insurance, In Just One Search

Here at QuoteGrab, ensuring that your business succeeds is at the forefront of everything we do. And grabbing you a deal whilst providing that solution at a lightening-fast speed is just how we like to do things! So, if you’re on the lookout for Key Man Insurance, we can help you find it.

All you have to do is fill out a form, and grab that quote!

Takes less than 2 minutes

Takes 2 minutes

We take pride in finding you a solution to your business needs super-fast. And by super-fast, I mean the form takes 120 seconds to fill out.

Saves you money

Save Money

Saving you time isn’t our only hobby; saving you money is also a popular pastime, here at QuoteGrab. We don’t just find you a solution, we find you a low-cost one!

Find a great provider

Get Great Key Man Insurance

So we’ve saved you time, we’ve saved you money… What else? Oh, and we can find you top-notch Key Man Insurance, too. Yes, we are that good.

Find The Key Man Insurance For You

Helping you beat the clock and pocket some extra cash are pretty important goals, here at QuoteGrab. But aside from boosting your budget and giving you more time for that coffee break, finding you the business solution to help you succeed is at the center of everything we do. And it’s Key Man Insurance which can ensure your business’ success should an important member of your team pass away or be unable to work. So, where can you find this Key Man Insurance? Easy - with us! Just fill out a form, and grab a quote.

We’re proud to provide solutions for a wide array of businesses, no matter the query or concern. This is especially true given the need to maintain consistency within a business if something does happen to a key employee within it. Once you’ve filled in a super-fast form, we’re busy behind the scenes: we’re comparing the costs, deciphering the details, and totaling the insurers’ final scores. We’ve even laid out the key information about Key Man Insurance so you can get the low-down on this business solution.

Once your up to speed, we quicken the pace with a quote. And that’s your solution sorted!

Why Compare Key Man Insurance Prices?

You run a business, right? Chances are you’ll know that money matters. No, it really matters! Spending it, saving it, trying to wrest control of it: all of these factors decide the fate of your business. And when it’s something as crucial as Key Man Insurance, you really can’t afford to skimp and be stuck with a poor quality policy. This is why we place so much importance on finding you a high-quality solution to your business needs at a low cost. One of the ways we guarantee this is by comparing the prices.

Benefits of Comparing Prices

Find lower-cost, higher-quality Key Man Insurance

Discover a wide range of premiums to choose from

Get a premium to suit your business’ current and future needs

Key Man Insurance is vital for many businesses if they depend on key figures within their business. And your business cannot afford to lose its driving force without the extra support. So, how can you get this insurance?

Simple - just grab a quote!

53% of businesses in the UK alone claim that if their key person was no longer apart of their business, they would cease trading.
Source: Business Protection: State of the nation's SMEs report, Legal & General Assurance Society Limited (2017)
How To Get Key Man Insurance Cheaper

WWe don’t just love bagging a bargain for our clients - we can’t turn down a good deal, ourselves! And because of this, we’ve picked up many-a-tip over time. So, it’s about time we passed some of them down to you…

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Compare The Costs

Fancy finding low-cost Key Man Insurance? Here’s what you’ve got to do: compare the top insurers based on their experience with businesses like yours, their policies, and their prices. Don’t have time to consider each insurer in-depth? Not 100% sure how to go about this? Then leave it to us - grab a quote, and we find a low-cost, high-quality solution for you.

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Healthy Key Man, Healthy Business

Key Man Insurance is often compared to life insurance - but instead of a family getting a payout when the person passes away, the business gets the payout, instead. So, just like life insurance, the health of the person in question affects the price-tag attached to it. That’s right - improving the health of the ‘key man’ can reduce the cost!

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Calculate The Coverage

Aside from the health of the ‘key man’ in question, the cost of finding a replacement, profit loss, and other damages are also reflected in the price you pay. So, ensuring you’ve considered and calculated the costs you’d expect can give you a handle on Key Man Insurance.

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Loyalty Is Priceless

Another consideration is the person chosen for the insurance. If the key man decides to leave the business despite insurance payments being made, these payments will have been wasted. Thus, it stands that making sure that this insurance is the best for your business will prevent you from wasting money.

What Exactly Can Key Man Insurance Do?

Key Man Insurance is a life assurance policy which covers the life of a key figure in a business. When a key figure passes away or is unable to work for the company due to a critical illness, for example, this can have a severe impact on the business, resulting in lost profit, the added cost and process of looking for a replacement, and any other losses to the business as a result. The insurance is paid for and owned by the employer, and any payout is made to them.

What Are The Benefits Of Key Man Insurance?

The financial compensation for loss is clearly the main benefit of this insurance, protecting the business from financial difficulty. Alongside this, an employee can claim a tax deduction, and can even help businesses in their tax planning. In fact, there is no need to give advance intimation to the income tax authorities! Key person insurance also helps to improve the retention of key people at the business, ensuring consistency in the future.

Tips To Get Your Key Man Insurance Prices Cheaper

Even if it's a price you're willing to pay, there’s always a way to keep those costs down. Here are some Quotegrab suggestions for cutting down on your website design costs:

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Compare, Compare, Compare
Finding low cost Key Man Insurance involves searching, comparing, and weighing up the pros and cons of different insurers. And it is the only way to find a cheaper insurance company. However, if you don’t know what you’re looking for, let alone have any time to embark on this search, hand it over to us. Grab that quote!

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Reflect On Your Business Needs
Yet before you even embark on the search, knowing what you are looking for is key to ensuring you get your money’s worth and don’t spend more than you have to. By considering who to cover, how much and how long for you can calculate the amount you are willing to spend, and stick to a budget, avoiding the dreaded overspend!

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Run The Numbers
You’ll want to keep your calculators out for this one: the price of the premium is determined by many factors, but it’s the loss of profit which figures as a key cost. By determining the loss of profit you might face and the other costs that could be incurred, you can choose the coverage that suits your budget. How’s that for getting your money’s worth?

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Time Is Money
The amount of time spent looking for a replacement can also add up to a hefty bill. So, considering the business beyond the key man might provide insight into more accurate coverage, preventing you from wasting money and ensuring your business receives the financial support it needs.

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Save, Don’t Waste
Key Man Insurance is based on the premise that the person covered will remain loyal to the business until they can no longer work for them. However, if the person then decides to leave the business, instead, this will result in wasted money paid to the insurers. And wasted money doesn’t help any business!

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Better Health, Lower Price
The health of the key man is also a key determinant of the cost of this insurance. It might not sound like the best tip for running a business, but perhaps improving the health of the key man might be the money saving trick you need! Just like with health insurance, better health means a cheaper premium.

Frequently Asked Questions

We get emailed, tweeted and asked the same questions every day. So to combat those queries, we’ve decided to answer the most common ones here.

+ What Is A ‘Key Man’?

A key employee or a keyman is a term used for an important employee or executive who is central to the business. Without them, it would prove a significant loss to the business and could cause severe damage. In particular, they are crucial to the financial success of the company.

+ Is Key Man Insurance Tax Deductible?

A Keyman insurance premium is not tax-deductible if it is covering a business loan. However, the exact terms pf the laws surrounding this can be complicated, so it could be useful to ask a broker to find out the complete details of keyman insurance. Or, you can read our articles on Key Man Insurance, and get up to speed!

+ What Does It Cover?

Key Man Insurance covers a key man or employee, and it pays out if that person or a group of key employees pass away, or are no longer able to work for your business. However, there can be some exemptions when it comes to critical illness, long-term disability and income protection. But this will depend on the insurers in question.

+ How Much Does It Cost?

Obviously, the cost of keyman insurance will vary across insurers. The amount your business pays in premiums will depend on the person being insured and the level of cover needed. The more cover you have, the more it will cost! The factors that influence the cost include who you cover, how long for, and the predicted profit loss alongside other business costs.