No two skill
sets are identicalSo why should life cover for key personnel be the same?

What is Keyperson insurance?

The loss of a key person who has specialist skills or knowledge can severely impact future business goals and profits. Old Mutual Protect Business Life Cover pays a single tax-free amount to the business when a key person such as a director, manager, business partner or employee dies. This payout can be used to minimise financial losses incurred by the loss of the key person. Not only can you cover your key person for death, but also for disability, functional impairment or severe illness.
How does it work?

With the help of your financial adviser, you can build cover that's right for your keyperson, following these three steps:

  • Choose your cover - in this instance Old Mutual Protect Business Life Cover
  • Enrich your cover by paying extra to add on benefits such as Old Mutual Protect Business Disability Cover or Old Mutual Protect Business Functional Impairment Cover and Old Mutual Protect Business Severe Illness Cover.
  • Choose your add-ons. If you chose Old Mutual Protect Business Disability Cover in step 2 you can choose Own Occupation Benefit as an add-on. If you chose Old Mutual Protect Severe Illness cover, then you can opt for Top-up Benefit as an add-on.
    • Father and son    What are the extra benefits?
    • Old Mutual Protect Business Disability Cover – pays a single amount between R100 000 to R30 million if, because of an illness or injury, you become permanently disabled and can’t work or permanently impaired or can’t take care of yourself.
    • Old Mutual Protect Business Functional Impairment Cover – pays a single amount between R100 000 to R30 million if, because of an illness or injury, you become permanently impaired or can’t take care of yourself.
    • Old Mutual Protect Business Severe Illness Cover – pays a percentage of the cover amount between R100 000 to R6 million if you suffer a severe illness such as a heart attack, cancer or stroke. If your quality of life is severely impacted by treatment and you can’t care for yourself, the Cancer Enhancer will boost the payout by up to 25% of the cover amount.
    Two business people looking at a tablet
    Why choose Old Mutual's Keyperson insurance?Because while it's designed for people, it's built for you.
    Learn more about Keyperson insuranceIf you'd like to learn more please download our informative brochure.Our business protection offering

    A great range of products to protect your business and your people

    Need to know more about Old Mutual's Keyperson insruance?

    Take a look at some of the frequently asked questions below.

      Speak to your financial adviser to get cover. Unlike off-the-shelf products, ours are designed around what you personally need and want. Your adviser can help you build your customised cover. Should you not have an adviser please call us on 0860 60 60 60 or find an adviser here.

      It's cover that pays a single amount between R100 000 to R30 million if, because of an illness or injury, you become:
      - permanently disabled and can’t work or
      - permanently impaired or
      - can’t take care of yourself.

      Own Occupation Benefit pays a single amount if you’re unable to do your own job because of an illness or injury. Without this benefit, your ability to do an alternative job, which you’re deemed reasonably suited for based on your education, skills, experience and other factors may be considered when assessing your claim.

      It's cover that pays a single amount between R100 000 to R30 million if, because of an illness or injury, you become:
      - permanently impaired or
      - can’t take care of yourself.

      Cover that pays a percentage of the cover amount between R100 000 to R6 million if you suffer a severe illness such as a heart attack, cancer or stroke. If your quality of life is severely impacted by cancer treatment and you can’t care for yourself, the Cancer Enhancer will boost the payout by up to 25% of the cover amount.

      A Top-up Benefit pays the full cover amount for specific illnesses (which are only covered at a percentage of the cover amount).

      Cover starts up to 30 days before the first premium is payable.

      • If you stop paying premiums the cover stops. It's important to get in touch with your adviser before this happens so that he or she can assist you with possible solutions.
      • As this product is not an investment if you cancel it, you won't receive any money.