What is business protection?

Business protection could help client owned businesses continue to trade should a key person or business owner die or become terminally or critically* ill. Proceeds from the policy could help ensure that key individuals are replaced, corporate debt is protected and shares from the deceased partner's/director's estate are purchased.

Many believe arranging business protection to be a lengthy and complicated process. But actually, the principles are similar to any other type of protection.

The most significant differences are:

• Business protection generally incorporates higher sums assured.
• A claim may be paid to a business, not a family member.

Types of business protection

We offer four main types of business protection:

• Key Person Protection (profit protection)
• Partner/Director/Limited Liability Partnership Share Protection
• Business Loan Protection
• Relevant Life Plan

As with all types of insurance, limitations and exclusions apply.

Types of policy

• Term assurance
• Term assurance plus critical illness cover
• Whole of life protection plan

All policies can be set up in Trust.

* If critical illness cover is chosen as an additional option.