Business protection is an insurance contract that helps protect a business from the financial effects of key people being diagnosed with a critical illness or dying. Business protection is available for partnerships (including limited liability partnerships), shareholders, sole traders and key employees.

• Provides a financial safety net in the event of the death or critical illness of a key person.
• Provides funds to the remaining partners or shareholders so they can buy-out the critically ill partner or shareholder or purchase the deceased’s shares from his or her estate.
• Provides funds to ensure repayment of a business loan in the event of death or critical illness.
• Ensures business continuity by providing funds available to the remaining shareholders or partners to enable them to purchase the deceased or critically ill shareholder or partner’s share of the business.
• Ensures the deceased’s family or the critically shareholder or partner receives a fair value for their share of the business.