Business  Protection


Business protection aims to reduce the financial impact of death or critical illness affecting key people within your business.

  • Shareholder Protection

  • Key Person Protection

  • Shareholder protection

If a shareholding director or business partner dies, their business interests usually pass into their estate. Shareholder or partnership cover provides funds that can be used by the surviving directors/partners to purchase these interests from the estate. This allows the business to continue, after a director or partner’s death, without the financial strain of raising significant funds for the purchase. It also means the deceased family are not left with an unwanted share in the business.

Key Person Protection

Key Person Protection helps protect a business against the financial fallout of a ‘key person’ dying, falling terminally ill or, provided critical illness cover has been taken as an optional extra, falling critically ill during the term of the plan. Whether they provide expertise, contacts or other assets, losing a key person can be very damaging. The business could be hit by a loss of profit, reduced sales, recruitment/training costs and disruption to its plans, to highlight just a few potential problems.

In almost any business, there’ll be a few people who make a major contribution to the company’s profitability. People whose skills, experience or expertise would make them difficult to replace. Often, their value will be reflected in their remuneration package: a good indicator if you’re helping a client identify the key people in their business. The types of key employees that are often affected are as follows:

  • managing directors

  • technology specialists

  • sales managers

  • other individuals with specialist skills

With Key Person Protection, a life insurance plan is put in place, with or without optional critical illness cover, written on the life of the key person. The plan is owned by the business, which also pays the premiums. Any payout is therefore paid to the business, which could use the money to, for example, recruit or train a replacement.


Advantage Wealth Management Ltd is directly authorised and regulated by the Financial Conduct Authority. Registered office: 6th Floor, Gordon Chambers, 90 Mitchell Street, Glasgow G1 3NQ. Registered in Scotland no. 449404.


The guidance and/or advice contained in this website is subject to a UK regulatory regime and is therefore restricted to consumers based in the UK.

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