Business Protection

Business protection insurance protects a company financially when its owners or employees are affected by illness or death. It can help support owners in making sure their business survives in challenging times. Your clients already understand the need to protect their business premises and equipment. However, many forget about their most valuable asset – their staff. The death or critical illness of a key employee or co-owner can seriously impact a business, financially as well as the loss of key knowledge. Business protection can help ensure the long term financial health of the business during difficult circumstances.

Who it can help

We offer solutions to businesses of all sizes and types – including limited companies, sole traders, partnerships, and limited liability partnerships (LLPs).

At AIG, we understand that different businesses need different types of protection – particularly for partnerships and shareholders. Because of this, we make it possible to take out a ‘life of another’ plan or an ‘own life’ plan, which is then written into a business trust.

So, whatever type of business your client has, we offer the protection they need.

We have a dedicated specimen business trust document together with specimen option agreements. We recommend legal advice should be taken to ensure the suitability of these specimen documents as we cannot advise on whether putting a plan into a trust would be suitable for your client’s circumstances.