Key Person Income Protection


I'm hoping for some help / ideas for a case I'm working on please...

I have a client who, along with his wife, are the only Directors and shareholders of their company. They are both contractors and each invoice to their clients separately. The husband's 'turnover / earnings' is much higher than the wife's. The income into the company is pooled and then divided equally between them, as a fairly low salary and dividends on top.

They are in dire need of income protection, but I seem to only be able to find companies willing to insure them based on the amount they draw from the company, not the amount each of them actually 'earns / brings in to the company'.  The Key Person insurance also seems to only cover life and critical illness, which isn't what I'm after.  If the husband were to be disabled, for example, the wife would lose part of her income stream from the company as there would no longer be the higher turnover provided by the husband.

If anyone could point me in the right direction it would be much appreciated. Thanks in advance.

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