Business protection is about providing financial support if a director, partner or key employee dies or becomes seriously ill.

Providing financial support at a time when it is vital for the business to recover quickly and minimise the impact on profits is crucial for business continuity. In simple terms there are three main business protection insurances that will safeguard your business:

1. Shareholder protection

Should a shareholder die (or become terminally ill) a policy pays out a lump sum that can be used to purchase the shares of the deceased shareholder or partner.

2. Key person insurance

A policy that provides funds to protect the business against the effects arising from the death (or terminal illness) of a key person, including a loss of profits and the costs of finding and training a suitable replacement.

3. Loan repayment insurance

Providing funds to repay loans, mortgages or other debt in the event of the loss of the business owner or key person.

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for business owners, company directors and HR professionals.