Business protection helps make sure the business can continue to trade and allows the owners to maintain control while making sure dependants receive a fair value for their share of the business. Businesses look to protect themselves against every eventuality, buying cover for their buildings, contents, materials and cars. However, the majority don’t cover their single biggest asset – their employees. Read our sales aid, ‘Probability of death or critical illness within a business’, for more information.

According to research carried out by the British Chambers of Commerce, more than 60% of businesses have at least two key individuals. But 44% of those surveyed said their businesses wouldn’t survive longer than 12 months if they lost one of these key individuals. And almost 95% of businesses said they’d need a cash injection of up to £800,000 to continue trading at current projected levels. If no protection cover were in place, how would the business get the money to allow trading to continue or help replace the key individual?