Business Insurance is designed to provide peace of mind to business owner/partners, and their families, in the event that they pass away or become unable to manage the affairs of their company through illness/injury.

In the event that a Partner or Owner passes away a lump sum payment will be released to help purchase the deceased persons interest in the business.
This type of business insurance protects the family of the deceased and also protects the remaining partners in the business.

If an Owner or Partner passes away a lump sum equal to the outstanding debt/mortgage/overdraft of the business is released to settle the debts owed by the company.

This is a form of Income Protection Insurance for Business Owners/Directors/Partners which ensures that 75% of their normal salary can continue to be paid in the event that they find themselves unable to work through injury or illness.

This form of business insurance policy is taken out by a company which relies on a Key Person who is integral to the proper functioning of the business.
The policy is generally owned and paid for by the employer, so if a claim is made it is paid to the employer.