Key person Farmers

Rural Key Person Insurance

If you were unable to take care of the farm due to illness or injury will the financial needs of you and your farm be met?

Unlike most businesses, a farm or sharemilking business cannot afford to stop operating in the event of a loss of a key person. The financial consequences of a disability or extended illness could be devastating for your lifestyle and those that depend on you. Also when you work and live in the same place, along with your family, a threat to the farming operation is also a threat to your home life.

The standard income protection benefit is based on audited earnings after interest and depreciation. This may be cumbersome for a small-scale farmer to validate, whereas gross farm income is much easier to substantiate. 

Rural Key Person Cover is specifically designed for farmers and farm operators like sharemilkers. Rural Key Person Cover will pay you a monthly income if a key person is disabled and unable to work because of illness or injury. This cover allows you to hire a replacement contractor/locum to take care of things while you get back on your feet. You can pay them from a benefit of up to 35% of the farm's gross turnover - up to a maximum of $10,000 per month.

Note: A key person is someone on the farm responsible for generating business income.

Just because your health suffers a setback, your farm or sharemilking business doesn’t have to. The right insurance cover is a vital contingency plan for any farmer, as it can take just one setback to jeopardise years of hard work. 

An Adelphi Insurance adviser can sit do with you and your partner, in the comfort of your home, and develop your family’s personalised Business Insurance Plan to determine the ideal level of Rural Insurance cover you need for your family’s unique circumstances and needs. This can include looking at your life insurance, serious illness, permanent disability covers and can extend to the areas of succession planning. 

Some food for thought…

  • The cost of farm injuries to New Zealand in 2008/2009 was in excess of $51 million. (1)
  • Every day, nine New Zealanders are injured on a farm. (1)
  • There are more than 63,000 farms in New Zealand, employing in excess of 135,000 New Zealanders. (2)
  • About 40% of dairy farmers operate with sharemilkers. (3)
  • Each year, 16 New Zealanders die on farms as a result of their injuries. (1)
    1. ACC Statistics, 2010
    2. Statistics New Zealand
    3. (



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