Business Protection for your peace of mind

As the owner of a business, regardless of its size, we cannot recommend that you take out fully comprehensive business insurance enough. Without adequate cover, you are at risk of losing profit, reputation and in the worst cases, your business itself.

Business protection can be the difference between whether your company is able to remain trading if a key person or owner of the business becomes terminally or critically ill, or passes away – policy proceeds can help to replace key staff, protect against corporate debt and acquire shares from the estate of a deceased partner or shareholder.

We offer support and guidance on the various types of business insurance, from answering queries through to purchasing the best policies to cover your business fully.

Types of Business Protection available

Key person assurance (key person protection)

Losing a key person can cause extensive disruption and increase the workloads of remaining staff. Key Person Assurance Protection covers a business against the financial effects of the terminal illness, critical illness or death of a key person, during the policy term.

Key Person Assurance works in a way similar to Life Assurance or Critical Illness, but money paid out under the policy goes to the employer; not the individual or their family. As such, the business pays the premiums.

Business loan protection

Business Loan Protection is paid by a business, to cover an individual that has guaranteed a loan to that business. Should that person become critically or terminal ill, or die, the Business Loan Protection policy will help the business to pay any outstanding loans, overdrafts or commercial mortgages that were previously guaranteed.

Valid Business Loan Protection claims can pay out a sum that is as much as equal to any outstanding debt.

Share protection

Should the owner of a business become critically or terminally ill, or die, a Share Protection policy will provide the remaining owners of that business with a sum of money to help them continue to trade.

Cover provided under a Share Protection policy can prevent the destabilisation of a business due to the unexpected loss of a partner, director or shareholder and it is always worth considering in situations where there are multiple business owners.

Relevant life plan assurance

Relevant Life Plan Assurance provide a tax-efficient ‘death in service’ benefit to an individual employee, by paying a lump sum to the employee’s family and dependants if they should die during the length of the policy.

In certain circumstances, payouts from a Relevant Life Plan Assurance policy may also be made while the employee is still alive, should they be diagnosed with a terminal illness.

We offer unbiased advice and support to businesses seeking all types of business protection, or requiring further details about how to protect their company moving forward.