Key Person & Business Expenses Insurance. Done Right.



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Key Person Insurance

‘Key Person’ insurance refers to a person or employee that the business is dependent on to produce revenue or is responsible for all or a significant portion of business debt.

If the ‘Key Person’ dies, becomes disabled or suffers a trauma event, their major contribution disappears, which may have a significant financial impact of the cash flow of the business. Key Person insurance provides a lump sum benefit to assist the business in implementing contingencies to continue operating.

This type of insurance is a part of a larger Business Succession and Continuation offering that also includes Buy and Sell insurance coverage, buy and sell insurance is a funding option to assist in the transfer of the business equity in the event of the death, disability or trauma event of an owner or partner.

In these cases, it is vital for business owners to enter into a written buy/sell agreement, setting out their respective obligations with regard to the transfer of the business equity. The choice of insurance solution for buy/sell purposes depends on the trigger events being covered.

Key Person and Buy and Sell are particularly complex areas of insurance and our Bruce Life Insurance Adviser can help by ensuring that the correct benefit amounts are in place and the ownership of the insurance is correct so that if there is a trigger event your business will continue.


I have been using Bruce Insurance for 10+ years now and always get immediate responses and the right information. I highly recommend Bruce Insurance.


Shane Cavanagh

Business Expenses Insurance

Business expenses insurance is similar to income protection insurance, but it’s designed specifically for business owners.

Business expenses pays a monthly benefit for a maximum of 12 months to cover business costs if you (as a business owner) suffer an illness or injury and are unable to work. Some examples of expenses that can be covered are listed below.

  • Accounting and audit fees
  • Regular advertising costs, postage, printing and stationery
  • Electricity, gas, heating, water, telephone and cleaning costs
  • Security costs
  • Rent, property rates and taxes
  • Membership fees, publications and subscriptions to Professional bodies
  • Leasing costs of plant and equipment
  • Bank charges, interest on business loans
  • Business related insurance premiums
  • Salaries and other related costs for non-income generating employees of your business

A Bruce life insurance adviser will help you calculate the correct business expenses coverage to secure so that you in the event that you can’t work due to an illness or an injury your business will have the cash flow to pay it bill while you recover.


We don’t just run an insurance business. We’re wholly invested in protecting your livelihood.