Business Protection
Insurance products designed to safeguard your business
We get to know your business so we can recommend the right insurance solutions to protect your assets and optimise your financial strategies.
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Protect What You've Built With Business Protection Insurance
When you’re self-employed, run a limited company, or manage a growing business, your ability to generate income is your most valuable asset. Yet many business owners, contractors, and freelancers leave themselves financially exposed by not putting proper Business Protection Insurance in place. Unlike large corporations with HR departments, independent professionals are often left without a safety net if illness, death, or loss of a key person occurs.
Business protection isn’t a nice-to-have, it’s a critical part of future-proofing your company
It can ensure that your business keeps running, your team stays supported, and your family is financially secure if something unexpected happens. Whether it’s protecting profits, covering outstanding business loans, or securing the continuity of ownership, the right protection plan can prevent disruption and long-term financial damage.
At Broadbench, we specialise in working with contractors, freelancers, and business owners who don’t fit the “standard” insurance mould. We understand the complexities of non-traditional income, limited company structures, and the unique risks you face. Our expert advisers will guide you through options such as Relevant Life Cover, Key Person Insurance, Shareholder Protection, and Business Loan Protection, ensuring your plan is tailored to your circumstances and tax-efficiently structured.
When you’re searching for the right business insurance for contractors or freelancer life cover, it pays to speak to someone who understands your world. Broadbench is the trusted choice for business protection advice that’s personal, practical, and built around your needs.
Our Business Protection Products
Relevant Life Insurance
Relevant life cover is company-paid, tax-efficient insurance giving your family a lump sum payout if you die.
Key Persons Insurance
Key person cover protects businesses from financial strain if a key person dies or becomes seriously ill.
Executive Income Protection
Executive income protection lets your company fund tax-deductible cover replacing income if illness or injury prevents work.
Business Healthcare
Business health insurance provides quick private healthcare access, minimising downtime and covering diagnostics, treatment, and recovery.
Business Loan Protection
Business loan protection insurance covers loans, overdrafts, and guarantees if death or critical illness occurs.
Shareholder Protection
Shareholder protection insurance provides funds to buy shares if a director or shareholder dies or falls critically ill.
Professional Indemnity
There are many ways in which your business can be liable. While you might think you would never be accused of such things, a disgruntled client may disagree. Get a quote today.
Common Objections to Business Protection - And Why They Miss the Mark
When the unexpected happens—illness, death, or incapacity—it doesn’t just impact families. It can dismantle a business.
That’s why protection is essential, not just “nice to have.”
Reality: Business protection can be surprisingly affordable, especially when structured tax-efficiently (e.g., Relevant Life). Delaying cover often costs more later, and the financial risk of being unprotected can be far greater than the monthly premium.
Clarification: Even small businesses depend on key people, partners, or loans. Protection ensures your company can survive a crisis, repay debt, and stay in your control. In fact, smaller businesses may suffer more without a safety net.
Response: Putting protection in place is quicker and easier than most think, and the cost of delay could be far worse. A short conversation today can save months of stress down the line.
Clarification: Many business protection policies—like Relevant Life or Executive Income Protection—can actually be tax-efficient and structured through your company. An advisor and accountant can work together to keep things clean and compliant.
Reality: That’s a big assumption. Even the most capable teams often need time, capital, and leadership to carry on. Business protection gives them the breathing space and financial support to do that.
Clarification: Without clear legal and financial protection, like shareholder protection or loan cover, they may face delays, disputes, or forced sales. Protection ensures your wishes are funded and respected.
Clarification: Even if you’re not protecting dependents, business protection safeguards your company, colleagues, and debts. Plus, policies like shareholder protection ensure your estate is handled smoothly, without probate complications.
Reality: Employer-provided PAYE benefits usually cap at 4x–6x salary, often aren’t portable, and don’t help your business survive the loss of you or a key team member. Private cover complements, not replaces, basic work benefits.
Clarification: That’s great, but business protection is a different need. It ensures your business can continue trading, pay its debts, and protect staff or investors. And if your health has changed since taking out cover years ago, now is the time to review and adjust.
Clarification: If the mortgage is business-related and your personal or business estate is tied up in probate, it could delay repayment or asset release. Covering liabilities with life insurance simplifies and accelerates financial handover.
Clarification: Using business protection through trusts can remove payouts from your estate, speeding up access for beneficiaries and avoiding inheritance tax. An advisor can help set this up clearly and correctly.
It’s not about fear—it’s about foresight.
You insure your equipment, your premises, your vehicles. Why wouldn’t you insure your people, profits, and leadership?
Let’s make sure your business, and everyone who relies on it, is protected, no matter what tomorrow brings.
Need help understanding your options?
Get in touch for a clear, personalised conversation; no jargon, no pressure, just honest advice tailored to you and your business.
Tailored Protection For The Way You Work
Whether you’re a contractor looking for Income Protection, a company director planning for succession, or a freelancer seeking business insurance that fits your lifestyle, Broadbench can help. We specialise in personalised advice for people who don’t fit into traditional financial boxes; designing protection plans that work for your unique setup, cash flow, and future goals.
Ready to future-proof your income and your business? Contact Broadbench today.
Not Sure What You Need?
You’re not expected to figure it all out on your own. Whether you’re looking for Life Insurance for freelancers, Relevant Life Cover for contractors, or simply need help protecting your income, our expert advisers are here to help. We’ll assess your needs, explain your options clearly, and recommend the most efficient and cost-effective route forward.
Speak to a Broadbench adviser today and protect the business you’ve worked so hard to build.
Ready to get started?
Our expert advisors have the skills and experience to find you the right financial products for your business. Fill out the form below, and we’ll be in touch right away.
FAQs
Why do we need insurance?
Insurance plans are beneficial to anyone looking to protect their family, assets/ property, and themselves from financial risk/ losses: Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future.
How can insurance companies afford to provide large settlements to the policyholders?
The insurance company collects the premium amount for multiple policyholders and invests the fund securely to accumulate over time and pay out the policyholder when they claim.
Why should I use you instead of doing it myself online?
If you are looking for a quick quote, you aren’t in the right place! The reason for that is that a ‘quick quote’ is rarely a good fit for what you need. A typical person takes a guesstimate at the amount of cover they need and is led primarily by the monthly premium, rather than ensuring that the policy actually solves the problem they need it to. An advisor is an expert in their field and works hard to understand who you are and your lifestyle so that the policies you take out truly protect you, and at a cost that suits your budget.
Do business owners, professional or contractors need insurance?
Being a contractor carries certain obligations and legal responsibilities. You have a financial responsibility to your client for errors that you make. Although claims against contractors are rare, they do happen, and the claims can be very high! Having insurance cover fully protects you and provides you with peace of mind.
I’m new to contracting and want to replace my death in service/employee benefits, what are my options?
This is exactly where we can help! Now you are self-employed, it’s important to ensure you, your business and your loved ones are protected in every eventuality. That could include Income Protection, Critical Illness Cover, Life Insurance, Private Healthcare and Pensions.
As a self-employed/limited company business what types of Insurance coverage are compulsory?
It is advisable to consider all elements of insurance to protect you from a variety of risks within your market. If you employ any staff, you are required by law to have Employers’ Liability Insurance.
The only exemptions are limited companies where the owner is the sole employee and unincorporated family businesses where all employees are closely related. Professional Indemnity and Public Liability are often required by your customers under contract.
What insurance policies does an average contractor take out?
While protection and insurance products are personal, and everyone’s circumstances are different, there are a handful of core products that we see our contractor clients taking out. These include Life Insurance and, specifically, tax-efficient Relevant Life Insurance – which ensures your loved ones are financially protected in the event of your death. Alongside this is Critical Illness Insurance – protecting yourself and your family if you are ill and no longer able to work and earn. Finally, Indemnity Insurance protects your business against any claims made against you.
It’s important to note the value of working with an expert protection adviser firm like Broadbench. We’ll take the time to listen to who you are, and your unique circumstances before designing a protection package that protects exactly what you need it to.
