Business Protection Advisers

Business Protection Insurance

Safeguard your company against financial loss if a key person, shareholder, or business partner dies or becomes critically ill. Our business protection advisers help you find tailored insurance to keep your business running smoothly, whatever happens.

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What Is Business Protection Insurance?

Business protection insurance helps ensure your company can continue operating if an owner, shareholder, or key employee dies or becomes seriously ill. It provides a financial safety net - helping with loan repayments, recruitment costs, or share purchase arrangements.

Include a short explainer list:

Key Person Insurance – Protects the business if a vital individual passes away or is unable to work.

Shareholder Protection – Ensures remaining owners can buy shares from a deceased partner’s estate.

Relevant Life Cover – A tax-efficient life insurance policy for directors or employees, paid for by the company.

Why Your Business Needs Protection

Many businesses rely heavily on a few key individuals. Losing one unexpectedly can cause disruption, loss of clients, or financial strain.

Common reasons to take out business protection:

To cover business loans or debts

To ensure continuity and client confidence

To secure shareholder control

To protect against loss of profits

To provide tax-efficient cover for directors

Did you know?
HMRC may allow certain business protection premiums as allowable expenses - speak with your adviser for details.

Types of Business Protection We Offer

Key Person Insurance

Protects your business income if a key employee, director, or owner dies or suffers a critical illness.

Shareholder Protection

Allows remaining shareholders to buy out the shares of a deceased or critically ill partner, keeping control of the business.

Relevant Life Cover

A cost-effective life insurance policy paid by the company - ideal for directors and high-earning employees.

Why Choose Beals Financial Services?

At Beals, we understand how important it is to protect the business you’ve built. That’s why we only work with insurers who meet our strict criteria for financial stability, claims handling, and value for money - ensuring your cover is reliable when it matters most.

We only work with insurers who meet our strict criteria and financial stability

FCA-registered advisers specialising in business protection

We tailor each policy to your company’s size, structure, and risks

We support you with tax-efficient business protection planning

We offer a personal, long-term relationship with your dedicated adviser

Frequently Asked Business Protection Questions

What is business protection insurance?

Business protection insurance helps protect your company if a key person, shareholder, or business partner dies or becomes critically ill. The policy pays out a lump sum to help with costs such as recruiting replacements, repaying loans, or buying out a shareholder’s share of the business.

Do I need business protection insurance?

If your company would struggle financially without certain individuals - such as directors, shareholders, or senior employees - then business protection is essential. It ensures continuity and stability if someone critical can no longer work or passes away.

What is key person insurance?

Key person insurance (also known as keyman insurance) protects your business from financial loss if someone vital to the company (like a founder, director, or top performer) dies or becomes critically ill. The payout helps cover lost profits, recruitment costs, or loan repayments.

Is business protection insurance tax deductible?

In some cases, yes - HMRC may allow business protection premiums as an allowable expense if structured correctly. This depends on your company type and policy purpose. We’ll help you assess whether your policy can be made tax-efficient.

What’s the difference between key person insurance and shareholder protection?

Key person insurance protects against the loss of income caused by a key individual’s death or illness, while shareholder protection ensures the remaining business owners can buy the shares of a deceased or critically ill partner. Many companies choose to have both for full coverage.

What is a Relevant Life policy?

A Relevant Life policy is a tax-efficient life insurance plan paid for by the business on behalf of a director or employee. It provides personal life cover that qualifies as a business expense, making it ideal for limited company directors and high-earning employees.

How much does business protection insurance cost?

The cost depends on factors such as the size of your business, the level of cover, and who you’re insuring. We’ll compare quotes from top-rated insurers who meet our strict criteria to find the best value and protection for your business.

Can small businesses get business protection insurance?

Yes - even small limited companies can benefit from business protection. Whether you’re a single-director firm or a small partnership, the right policy ensures your business can keep trading if something unexpected happens.

Speak to a Business Protection Specialist

Get expert advice on Key Person Insurance, Shareholder, or Relevant Life cover - tailored to your company’s needs.

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FT Financial Adviser Service Awards 2024 - Five Stars (Platform, Pension, Investments)

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Defaqto - 5 Star rating (Platform, Personal, Pension, Drawdown & Onshore Bond)

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Money Marketing Awards 2024 - Best Retirement Provider

Exceptional Platform

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Schroders UK Platform Awards 2024 - Platform of the Year

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