What are the main types of business protection?
17 January 2025Business protection safeguards your company if a director, shareholder, partner, or key employee becomes ill or dies.
Business Protection
Help support your employees by offering benefits such as life cover, critical illness cover, income protections or health cover.
Speak to an insurance adviserProtecting your valuable employees
Relevant life insurance can be used by our clients to provide life insurance or life insurance with employee significant illness for their employees. This cover has the potential to have tax benefits.
Protecting your Directors
Executive income protection insurance provides financial support if a director or key employee can’t work due to illness or injury, ensuring they continue to receive a portion of their salary. This company-funded insurance can also cover benefits like pension contributions and dividends. Business protection policies help secure the company’s future by mitigating the financial impact of illness or death of key personnel, supporting stability and growth. Key types include Relevant Life Insurance, Key Person Protection, and Shareholder Protection.
Director Income ProtectionWhy do people buy Business Protection
Supporting employees
Your employees will be supported by offering benefits such as life cover, critical illness cover, income protection or health cover.
Relevant life insurance can be used by clients
Your clients can use relevant life insurance or life insurance with employee significant illness for their employees.
Tax benefits
Employers can provide tax efficient benefits on the death in the services of one or more employees, but do not wish to set up a group arrangement.
People are the biggest asset and risk
When it comes to SMEs, most will recognise that people are not only their biggest asset, but also the biggest area of risk for a firm. It is therefore crucial that firms identify these risks, and take steps to either remove or reduce the risk.
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