Share Protection and Partnership Protection can help business owners keep control of their company if one of them dies or is diagnosed with a critical illness; it also ensures the deceased’s family are fairly treated.
The cover you recommend depends on the business set-up:
- Share Protection is for limited companies (life insurance taken out on the life of the company’s shareholders)
- Partnership Protection is for partnerships and limited liability partnerships (life insurance taken out on the lives of the business partners)
Both can also include critical illness cover.