L&G introduces Key Person Income Protection

The new Key Person Income Protection proposition will sit alongside L&G's existing Share Protection, Relevant Life Plan and Executive Income Protection cover. The policy provides a monthly benefit to a business in the event of a valid claim to help meet the costs of repaying a business loan, replacing lost profits or hiring a temporary replacement employee in the event of a key employee being unable to work due to illness or injury. Profit protection will cover up to 75% of gross profit that can be attributed to the contribution of the key employee, temporary replacement cover will me...