Business Protection
Safeguard your company, your partners, and your key people with cover tailored to how your business actually runs.
Most businesses insure their premises, their vehicles, and their stock — then completely overlook the people who actually generate the income. As a whole of market adviser with over 20 years of experience, I help directors and business owners across Essex and the UK put proper Business Protection in place, often with premiums paid through the business.
Protecting the People Your Business Depends On
If you lost a key director, shareholder, or fee earner tomorrow, what would happen to the revenue, the loans, and the ownership of the company? Business Protection covers three core risks — the loss of a key person, the death or illness of a shareholder, and outstanding business debt. I’ll help you map your risks, choose the right structure, and arrange cover through the right entity so it’s tax efficient as well as effective.
What to Expect
- Free initial meeting to map the people, debts, and ownership of your business
- Advice on Key Person Cover, Shareholder Protection, and Relevant Life policies
- Support with cross option agreements and business trusts
- Whole of market comparison across a wide panel of major UK business protection insurers
- Guidance on tax treatment for company paid premiums and payouts
- Coordination with your accountant and solicitor where needed
- Full application management through to policy in force
FAQs
What is Key Person Cover?
Key Person Cover pays a lump sum to the business if a key individual, often a founder, director, or top fee earner, dies or becomes critically ill. It buys the business time to replace the person, protect revenue, and settle debts.
How does Shareholder Protection work?
Shareholder Protection provides funds and a legal framework so surviving shareholders can buy out a deceased or critically ill shareholder’s shares, rather than ending up in partnership with their family. It’s a combination of insurance plus a cross option agreement.
What is a Relevant Life policy?
A Relevant Life policy is a tax efficient life insurance contract paid for by a limited company on behalf of a director or employee. Premiums are usually a business expense and benefits are typically free of income tax, National Insurance, and corporation tax.
Can my business pay the premiums instead of me?
For most Business Protection and Relevant Life policies, yes. I’ll help you structure cover so it’s owned by the right entity, paid from the right account, and treated correctly for tax. Your accountant will thank you.
Do I need Business Protection if I'm the only director?
Often yes, especially if the business carries debt, employs staff, or supports your family income. A Relevant Life policy is frequently one of the most tax efficient ways for a single director company to arrange personal life cover.