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Business Protection

Core Cover

What is Life Cover?

Life Cover provides a lump sum cash payment if the person covered dies or is diagnosed with a terminal illness (with a life expectancy of less than 12 months). The person covered could be a shareholder, business partner or Key Person.

Get more from our Life Cover

Our Life Cover is available on a fixed term or renewable term basis. If you select a renewable term at the end of five years you have the option to take out a plan for a further five years.

More cover whilst we assess your application

With our VitalityLife Plan your business will receive free cover at no extra cost whilst the business is waiting for its application to be assessed.

Plus - Life Cover for people with HIV

We are the first mainstream insurance company to provide Life Cover for people with HIV, of up to £250,000 for a maximum of ten years.

Fast facts

  • Min term - one year

  • Max term Reviewable premiums - 60 years

  • Guaranteed premiums - 50 years

  • Min sum assured - £10,000 subject to minimum premium

  • Max sum assured - £10,000,000

  • Min entry age next birthday - 17

  • Max entry age next birthday - 75

  • Max expiry age - age 80 exactly

More flexibility to suit your business' needs

We offer Life Cover on a level, indexing or decreasing basis. With level cover, your cover is designed to stay the same over the life of the plan - it will only change if you change a cover. 

With indexed cover you can choose for your cover to increase in line with the Retail Prices Index (up to maximum of 10%) or by 2%, 3%, 4% or 5% p.a. 

With decreasing cover, your cover decreases each month in the same way as the outstanding capital on a repayment mortgage at an interest rate that you choose between 5% and 15%.

More safeguards with our guaranteed insurability options

Our guaranteed insurability options allow you to increase cover for your business when certain events happen without giving us information about the health of the person covered. These events include a change in the value of a Key Person, an increase in the value of a partner or shareholder's interest in the business and a new or increased loan or mortgage.

Business protection solutions

Our business solutions can help give your client reassurance.

  • Key Person Cover

    Gives your clients a payment to help protect their profits if an employee dies or suffers a serious illness.

  • Relevant Life Cover

    Cost-effective alternative to Life Cover. A tax-efficient way for your client to give their best people the best benefits.

  • Shareholder or Partnership Protection

    Gives your clients a lump sum so they can keep control of the business if a shareholder or a business partner dies or suffers a serious illness.

  • Business Loan Protection

    Gives your clients a payment to repay business loans if a shareholder or a business partner dies or suffers a serious illness.

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