Business Insurance:
Key Person Cover
Protect Your Business from the Loss of Essential Staff.
Key Person Cover Insurance in Tauranga & Mount Maunganui
Key Person Insurance is a vital safety net for Tauranga and Bay of Plenty businesses that rely on the expertise or leadership of specific individuals. If your business would struggle to operate or generate revenue without a certain team member - whether it’s a founding director, lead salesperson, or key technical expert—this insurance ensures your company has the financial means to survive and adapt.
When a key person is suddenly unable to work due to illness, injury, or death, your business can face lost revenue, contract delays, and increased costs for recruitment or training. Key Person Cover pays out a lump sum that can be used to bridge revenue gaps, maintain client relationships, or fund temporary replacements, helping your business stay resilient during a challenging time.
From boutique retailers in Mount Maunganui to manufacturing companies in Tauriko, we help local businesses put strong protection in place for their most valuable people. This is more than just insurance—it’s strategic risk management for the future of your business.
Key Person Insurance FAQs
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Key person insurance protects a business financially if a crucial employee, director, or partner can’t work due to death, disability, or serious illness. It provides funds to cover losses and help the business stay stable.
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A key person is usually someone whose skills, knowledge, or relationships are vital to the business’s success—like a founder, senior manager, or top salesperson.
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If a key person is lost unexpectedly, the payout can help cover expenses like finding and training a replacement, compensating for lost profits, or paying off debts.
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In New Zealand, the payout usually isn’t taxed if the policy is structured correctly, but we recommend advice from a tax professional for your business.