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We’re adding LV= Doctor Services to all business protection policies

Free business legal advice and tax guidance for your business protection clients

Business Protection

Business Protection Guide - the basics

Protecting people should be an integral part of any business plan. Business owners already protect many of the important things that keep the business running smoothly, like property, fleets and stock. So they should also insure their most valuable assets: their staff and shareholders.

Number 1

An easy way to position Business Protection with your clients

Key person and Share and Partnership cover can include Life insurance or Life insurance with Critical illness cover. Life with Critical illness cover includes terminal illness protection as well as free Children’s cover.

Green circle with a handshake

Ownership - If a partner or shareholder dies or is diagnosed with a critical illness, the proceeds help the remaining owners buy the affected individual’s share of the business. Without protection, the surviving owners could lose control of the business, impacting on-going success.

Green circle with a graph showing a profit

Profit - If a business loses a key person who influences revenue, the policy gives the company a cash injection, helping replace lost profits and possibly recruit a replacement.

Green circle with a '£'

Debt - If the business loses a key person, the money paid by the policy can be used to clear loans or other debt. Without a cash injection, investors and creditors (like the bank) may call in debts as they’re no longer confident the business can keep on top of them.

Relevant Life cover

Relevant Life cover is often referred to as a type of Business Protection and is a tax-efficient life insurance policy, allowing companies to offer death-in-service benefits to their staff.

Number 2

The different types of Business Protection Policies

LV= offers two Business Protection policies:

Life Insurance
Automatically includes terminal Illness cover at no extra cost.
Life Insurance plus Critical illness cover
Automatically includes terminal Illness and children's cover at no extra cost
Two men looking down at their desk

Not sure which to use?

Try our comparison guide to compare cover features and limits.

Cover Comparison guide

...that can be used with the main types of business protection shown in the table below.

Cover type




Key Person Cover

Green tick
Green tick
Red cross

Share Protection

Red cross
Red cross
Green tick

Partnership Protection

Red cross
Red cross
Green tick

Number 3

Overview of the cover types

Casual meeting discussing key person cover

Key Person

This is any member of staff who has a direct impact on the business’s profits. It could be the business owner, director, sales person or any employee with specialist skills or expertise.

Casual Business Protection meeting

Shareholder and Partnership Protection

Share Protection and Partnership Protection is sometimes referred to as ‘Owner’s Insurance’ and help business owners keep control of the company if one of them dies or is diagnosed with a critical illness.

Businesswomen working on Relevant Life Cover

Relevant Life Cover

Relevant Life cover is a tax-efficient life insurance policy, allowing companies to offer death in service benefits to their staff.

0800 032 3962

TextDirect: first dial 18001

Business Protection Specialist Team

Option 1 – New and current applications

Option 2 – Underwriting

Option 3 - New agency set up and login queries

Option 4 - Business Protection sales team and quotes

Options 1-3, 8.30am - 6.30pm Mon - Fri

Option 4, 9:00am - 5:00pm Mon - Fri

We will record and/or monitor calls for training and audit purposes.

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Business Protection options

Find out more about the type of businesses we cover and the policies available.

More about our Business Protection options

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Calculators and tools

See all our business protection calculators available to simplify your client conversations.

Our Business Protection calculators

Telephone handset

LV= Business Care

Our Business Protection includes valuable telephone support for your clients and their employees.

LV= Business Care

Team icon

Business Protection support team

Our team will make sure that all your Business Protection applications are dealt with quickly and efficiently.

More about our business support team

Connect with us

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LV=, County Gates, Bournemouth, BH1 2NF, UK