Many small to medium businesses are reliant on specific people within the organisation who provide specialist skills, expertise, talents or leadership. While these people may not directly contribute to the sales of the business, they are critical to the successful running of the business. Examples could include a computer systems specialist, or a leading sales person or a product designer.

Key Person works by providing the policy owner with an agreed level of funding to help compensate for losses the business may face when they lose a key person.

Built in Benefits

These benefits are automatically included in your Key Person policy. So no matter what other protection options you choose, your policy will have these benefits as standard.


Totally Disabled Key Person Benefit
Should the insured person become totally disabled and be unable to work in their usual occupation Asteron will pay the policy owner a pre-agreed amount

This provides the policy owner with some financial security should the unthinkable happen and the insured person becomes totally disabled.

Total and Permanent Disability (TPD) Payout Benefit
If the key person insured becomes totally and permanently disabled (TPD) as defined in the policy document we will pay the policy owner the remaining monthly bebefit as a lump sum.

Recurrent Disability Benefit
If you suffer from the same sickness or injury within 6 months of a disability claim ending we will consider your disablement as being recurring - meaning that your Totally Disabled Key Person benefit can recommence straight away.

Inflation Adjustment Benefit
We offer to increase the sum insured for key Person insurance on each anniversary of the commencement date. We will increase the insured by the greater of the indexation rate and 2%.

Leave Without Pay Benefit
If the person insured has a period of Leave without Pay, then you can suspend the cover and the premiums for up to 12 months - you don't need to pay for cover you don't need. Benefits will not be paid if the person insured suffers an illness or injury and is on Leave Without Pay.

The Leave Without Pay Benefit includes situations such as sabbatical, long serviceor maternity leave.

Payments While Overseas
If the insured person is disabled while overseas (excluding Australia) we will continue to pay you while you are overseas for up to 3 months.

Premium Waiver Benefit
If the insured is disabled and entitled to benefit payments under this policy, the Key Person policy premium will be waived until the insured is no longer disabled or not entitled to benefit payments under this policy.

Guarantee of Upgrade
If we make any future improvements to the Key Person policy without any increase in standard premium rates, we will provide these improvements to the policy owner without charging any additional premium.

Guarantee of Renewal
Provided premiums are paid, we will continue to renew the policy each year until the policy ends, without including any more restrictive terms regardless of the number of claims made or any changes to your health, occupation or pastimes.