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Zurich key person insurance, in Zurich's words
Zurich key person insurance is business protection that Zurich says is designed to help protect a company if a key individual passes away or becomes critically ill (Zurich ↗).
Here is what Zurich publishes about its cover options, sizing, claims and how to apply.
Every claim here is our summary of a named external source, linked beside it. Sources change: check the wording at the link before you rely on it.
Zurich
Life, critical illness, or both
- Product
- Zurich Business Protection (Zurich ↗)
- Cover
- Life, critical illness, or both (Zurich ↗)
- Life cover
- Perhaps up to 7× remuneration (2021 guide) (Zurich ↗)
- Claims paid, 2025
- 97.4% of individual protection claims (Zurich ↗)
Summarised from Zurich's own documents. Check each at its link.
About Zurich key person insurance
Zurich's adviser site says key person protection covers a business against loss of profit, replacement costs and its liabilities if a key person passes away or is diagnosed with a critical illness (Zurich for advisers ↗).
It says the roles covered typically include company directors, people in important management positions, and highly skilled or specialist employees (Zurich ↗).
“Key person insurance is a type of business protection, which is designed to help protect a company should a key individual die or become critically ill.”Source: (Zurich ↗)
Zurich key person cover options
The product is Zurich Business Protection.
Zurich says it offers three kinds of policy, set out in the table (Zurich ↗).
Its adviser site lists the same three cover types: life cover and critical illness, critical illness, and life cover (Zurich for advisers ↗).
Other benefits can be included: children's cover, enhanced children's cover, waiver of premium, total permanent disability and renewable cover (Zurich ↗).
Zurich key person insurance cost
Zurich does not publish key person premiums on the pages we checked, and this site publishes no prices.
Zurich says a business needs to quantify each key person's contribution to profit, which is used to set the sum assured (Zurich ↗).
The multiples shown come from its intermediary guide, dated November 2021, older than the other insurers' guides we cite (Zurich ↗).
From Zurich's intermediary guide, November 2021 (Zurich ↗).
Considering Zurich for key person cover? What else it lists
We do not rate insurers or say which to choose.
The card shows what else Zurich's adviser site lists alongside key person cover (Zurich for advisers ↗).
Zurich business protection, as its adviser site lists it
- Key person cover: loss of profit, replacement costs and liabilities (Zurich for advisers ↗)
- Shareholder protection, for owners of limited companies (Zurich for advisers ↗)
- Partnership protection, for LLPs and conventional partnerships (Zurich for advisers ↗)
- Business Protection: life cover, critical illness, or both (Zurich for advisers ↗)
How to get Zurich key person insurance
Zurich's consumer page says that if you are interested in business protection cover, you should speak to your financial adviser (Zurich ↗).
Its adviser site is for professional financial advisers only (Zurich for advisers ↗).
So Zurich key person insurance is arranged through an adviser.
Amount
Quantify the contribution to profit
Zurich uses it to set the sum assured.
Adviser
Speak to a financial adviser
Check the firm on the FCA Firm Checker first.
Cover
Choose life, critical illness or both
With other benefits, such as waiver of premium, if wanted.
Zurich claims and regulatory data
Zurich reported that 97.4% of all individual protection claims were paid in 2025, with payments of £392 million (Zurich ↗).
By type, it paid 99.8% of life protection, 93.8% of critical illness and 95.4% of income protection claims (Zurich ↗).
The figures are for individual protection, not key person cover alone.
Before you buy, with any insurer
- Answer the application questions fully: the ABI names not disclosing existing medical conditions, and not meeting the policy definitions, as common reasons claims are declined (ABI ↗)
- Check the firm first: the FCA says to use its Firm Checker before you buy insurance (FCA ↗)
- The Firm Checker cannot confirm whether FSCS or Financial Ombudsman Service protection will apply (FCA ↗)
Compare your key person insurance options
Each page below sets out what one insurer publishes about its own key person cover, with a source beside every figure.
We do not rate or rank insurers.
The comparison puts the published terms side by side.
- Life, or life and critical illness
Aviva
Aviva key person insurance → - Life, critical illness, income protection
Legal & General
Legal & General key person insurance → - Life, critical illness, income protection
Royal London
Royal London key person insurance → - Life, critical illness, loan cover
Scottish Widows
Scottish Widows key person insurance → - Life, optional critical illness
LV=
LV= key person insurance → - Through financial advisers
Vitality
Vitality key person insurance → - Now with Aviva
AIG Life
AIG Life key person insurance → - Closed to new individual cover
Canada Life
Canada Life key person insurance → - A personal accident variant
Hiscox
Hiscox key person insurance →
Check it for yourself
Every claim on this page is our summary of one of the documents listed here.
We last checked them against the live sources on 28 September 2026.
The documents are the authority, not this page.
Insurers and HMRC update them, so validate any figure or condition at its link before you rely on it.
- Zurich key person insurance ↗What it is, cover options, other benefits, how to buy
- Zurich business protection (adviser) ↗Key person, shareholder and partnership protection
- Zurich key person guide (November 2021) ↗Remuneration and profit multiples
- Zurich: retail protection claims in 2025 ↗Share of claims paid, by type
- Royal London Business Menu Plan (adviser) ↗Where the “Business Menu” name comes from
- ABI: protection claims in 2024 ↗Common reasons claims are declined
- FCA Firm Checker ↗Check a firm before you buy
- FCA Firm Checker guidance ↗What the Firm Checker cannot confirm
Zurich key person insurance, answered
Not financial advice. This page is general information. Before buying insurance, the FCA tells consumers to check the firm on its Firm Checker (FCA ↗). For free guidance, see MoneyHelper.