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Business Life Insurance

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Protecting Your Business with Life Insurance

Running a business is a rewarding journey—but it also comes with significant responsibilities. As a business owner, your financial wellbeing, key relationships, and livelihood are all closely tied to your company’s success. That’s why it’s crucial to have a safety net in place.
 
Business life insurance provides that peace of mind. It acts as a financial safeguard, helping to protect your business if you, a partner, or a key team member were to suffer a critical illness or pass away unexpectedly.
This kind of cover can be the difference between resilience and disruption.
In this section, we’ll explain what business life insurance is, how it works, and what types of cover might be suitable for you and your business partners.
Types Of Cover

Relevant Life Insurance

•Tax-efficient life cover for directors & employees
•Paid by the business; not treated as a benefit-in-kind
•Lump sum paid on death or terminal illness
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Key Person Insurance

•Covers critical illness or death of key staff
•Payout supports lost revenue or replacement costs
•Helps maintain business continuity.
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shareholder

Shareholder Protection

•Funds share buyout if a shareholder dies or becomes critically ill
•Protects ownership structure and control.
•Usually supported by a legal agreement
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Executive Income Protection

•Replaces income for key staff unable to work.
•Covers salary, pension, and National Insurance .
•Business-paid & typically tax-deductible.
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What is Business Life Insurance?

Life is unpredictable, but business life insurance helps bring financial stability to uncertain times. It refers to a range of protection policies designed to support your business if a key person becomes critically ill or dies.
 
Whether it’s helping the business to continue operating, repaying business debts, or ensuring a smooth ownership transition, this insurance can play a vital role in securing your company’s future.
 
Here are some key types of business life insurance:
Relevant Life Insurance: Offers tax-efficient personal life cover for employees and directors. Learn more about HMRC’s guidance on Relevant Life Policies.
Key Person Insurance: Protects your business from financial loss due to the absence of a vital team member. MoneyHelper provides insights into this type of insurance.
Shareholder Protection: Ensures business continuity by enabling remaining shareholders to retain control. The Chartered Insurance Institute (CII) offers detailed information on this topic.
Executive Income Protection: Allows employers to provide income cover for key staff in a tax-efficient way. See GOV.UK‘s guidance on income protection insurance for more details.

These policies don’t just protect people—they protect the business itself.

Want to know more about Life Insurance?

Check out some of our Frequently Asked Questions below

No—we only pass your details to an FCA-regulated broker, who then contacts you with quotes.

No—no credit check is performed by us at this stage.

Just your name, email, and phone number. The broker handles any further questions.

Submit a contact form, and a representative from our partner Insurance Broker will call or email you with multiple, no-obligation quotes.

No—sending your details is free and doesn’t commit you to anything.

We share only the basics (name, email, phone) under GDPR; the broker manages your data securely.

Yes—email [email protected] at any time to update or remove your information.

Get one of our specialist advisers to give you a call.


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Disclaimer: Lender Portal is a credit broker that connects UK businesses with a range of lenders. We work closely with businesses and their trusted advisors to provide access to business finance solutions. While we do not provide loans or other financial products ourselves, we can introduce you to a selection of providers that may be suitable for your needs. We may receive commission from the lenders we introduce you to, should you proceed with an application, and applicants must be at least 18 years old and meet specific terms and conditions to be eligible for our services. Guarantees and indemnities may be required by some lenders as part of their lending criteria. Lender Portal is registered with Companies House (Company Number: 15871826) and is based at 71-75 Shelton Street, Covent Garden, London WC2H 9JQ. By using our services, you acknowledge that you have read and understood these terms and conditions, and agree to be bound by them. ICO number: ZB727660

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