Key person insurance comparison, from the insurers' own documents

There is no single best, and this site does not rank or recommend insurers.

What differs is published: Legal & General gives up to £10 million of key person life cover and £3 million of critical illness cover under its Specific Work Task definition; Royal London gives unlimited life cover up to age 79 and £3 million of critical illness cover.

An FCA-authorised adviser can compare insurers against your circumstances. Legal & General adviser page ↗

You can compare what insurers publish, which is what this page does, with a link beside every figure.

A price needs a quote from an insurer or an FCA-authorised adviser.

Before buying insurance, the FCA tells consumers to check the firm on its Firm Checker. FCA Firm Checker ↗

No insurer document we cite publishes a key person premium, so this page compares no prices.

MoneyHelper says protection premiums depend on the product, how long it runs, age, smoking, lifestyle, health, job, any add-ons and whether the policy is single or joint.

Two quotes are only comparable if they are for the same cover on the same person. MoneyHelper ↗

No. Legal & General says key man insurance means the same thing as key person insurance, and refers to insurance policies that protect businesses from the loss of a key individual. Legal & General ↗

Not always.

Legal & General says its own team of financial advisers can advise on its Key Person Protection.

Some insurers present key person cover to advisers instead: Vitality’s key person page is on its site for financial advisers.

Whoever you use, the FCA tells consumers to check the firm on its Firm Checker first. Legal & General ↗

From an insurer or an FCA-authorised adviser: this site does not quote.

The insurer underwrites both the person and the need.

Legal & General says the business must be able to show it would lose profits in the key person’s absence, and needs their agreement.

Settle the cover amount, the term and whether to add critical illness first, so every quote is for the same cover. Legal & General ↗

Evidence of the need, and more of it for larger sums.

Zurich’s intermediary guide says larger sums assured need independent financial evidence, for example audited accounts and a letter from the company accountant.

Aviva asks for a full financial questionnaire only above £2.5 million of life cover or £1 million of critical illness cover.

Zurich’s guide is marked for intermediary use only, so ask your adviser what Zurich needs. Zurich guide ↗

On what it publishes, Zurich’s 2021 guide sizes critical illness cover at perhaps up to 5 times total remuneration, and describes income protection as paying income, usually a limited percentage of the key person’s salary, during prolonged illness or incapacity.

It gives no income protection limit.

Legal & General and Royal London publish key person income protection limits; see “If your key person can’t work for a while” above. Zurich guide ↗

No insurer we checked publishes key person rates.

One broker, Drewberry, publishes monthly premiums for £150,000 of level cover over 10 years for a healthy non-smoking company director, accurate as of August 2025: £7.26 at 35, £12.66 at 45 and £26.78 at 55 for life cover, and £32.56, £72.21 and £158.57 with critical illness.

A rate for you comes only from a quote. Drewberry (broker) ↗

The table above sets out seven insurers that describe key person cover in their own documents: Legal & General, Aviva, Royal London, Scottish Widows, Zurich, LV= and Vitality.

It is not a ranking or a complete list, and this site does not recommend one.

Pick any two above to read their terms side by side; an FCA-authorised adviser can compare them for your business. Legal & General adviser page ↗

Compare what they publish first: this page does that for key person cover, with a source beside every figure.

For prices, a broker or FCA-authorised adviser can approach several insurers for the same cover.

Before you use any firm, the FCA tells consumers to check it on its Firm Checker, and its register is a public record of authorised firms and individuals. FCA Firm Checker ↗

We do not rate brokers or advisers.

Start with the FCA: its register is a public record of firms and individuals it or the PRA has authorised, and it tells consumers to use its Firm Checker before buying insurance.

Then ask the firm which insurers it will approach and how it is paid. FCA register ↗

Not as life cover.

Hiscox’s glossary describes its key person insurance as a variant of personal accident insurance, paying a lump sum if someone vital to the business cannot work through illness or injury, and Hiscox lets a business set personal accident cover between £5,000 and £100,000.

For key person life or critical illness cover, the insurers in the table above publish their terms. Hiscox glossary ↗