Business protection
(for business owners)
Why consider business protection?
Protecting your business from unforeseen events is vital. What if a key employee falls ill or passes away unexpectedly? Could your business continue smoothly? Business protection provides essential financial support when critical team members are suddenly unavailable.
Talk to a Hug adviser
Types of business protection cover
Key person insurance
Covers financial losses from losing critical employees who drive profits or performance.
Relevant life cover
Tax-efficient life insurance designed specifically for directors and employees.
Business loan protection
Helps repay business loans if a key loan guarantor passes away.
Shareholder protection
Ensures continuity and control of your business in the event of a shareholder’s death.
Employee benefits
Group policies (life, income, critical illness) that support your team and enhance recruitment and retention efforts.
Your business is built on people, ideas, and relationships. But when something unexpected happens to key individuals, it can threaten everything you've worked hard to build. Business protection makes sure you're ready for these unexpected moments, so your business keeps running smoothly.
Ensures business continuity
Keeps essential operations going if key people are suddenly unavailable, so your business doesn’t miss a beat.
Covers unexpected recruitment costs
Provides financial support to quickly fill gaps and find the right talent, minimising disruption and maintaining your competitive edge.
Minimises financial disruption
Helps manage debts, loans, and financial commitments smoothly, reducing the risk of cash flow issues during challenging times.
Provides peace of mind for shareholders
Clearly defines what happens if a shareholder passes away, protecting the business structure and ensuring a smooth transition, without stress or uncertainty.
With Hug's tailored business protection, you can confidently focus on growth, knowing your business has a safety net for whatever life brings.
Book a business protection consultationFrequently asked questions (FAQs)
Any business, large or small, relying heavily on key individuals for revenue generation or operational success should consider protection.
Yes, our specialists will tailor solutions specifically to your business requirements and risks.
It can be, depending on the type of cover and business structure. Speak with a Hug adviser for specific guidance.
Policies can often be adjusted as your business evolves. Regular reviews with our advisers will keep your protection relevant.
Shareholder protection ensures funds are available to buy shares if a shareholder passes away, keeping control within the existing ownership.