Initially, when business owners think about protecting their company, they firstly think of assets such as vehicles, premises and stock – yet the most valuable asset to any business is its people. No matter the size or age of your company, there is usually at least one or two key people the business simply couldn’t do without. Business Protection is a range of protection/insurance policies which can help protect the survival of a business from financial losses in the event of key people passing away, being diagnosed with a critical illness or being unable to work due to disability.

Business Protection is available to all kinds of business structures including partnerships (including limited liability partnerships), shareholders, sole traders and key people. It can also be used to ensure repayment of a business debt in the event of death or critical illness of an owner, director, partner, key person or sole trader as well as loss of profits, loss of important business contacts, the cost of recruitment and training replacement, covering existing loan replacements, and the loss of vital systems and processes knowledge. How the arrangement is set up will depend on the type of business and its particular needs.