Business Protection Term Assurance is a life insurance policy designed to safeguard a business if a key person, business partner or director passes away during the policy term.
This policy provides a lump sum payout, which can be used to cover financial losses, repay debts, or buy out the deceased’s shares to keep the business running smoothly.
This type of cover is particularly useful for protecting against the sudden loss of a key individual whose expertise, investment or leadership is crucial to the business’s success.