Business Insurance is almost as varied as business itself.
Retail & Commercial Insurance protects buildings and stock but might also cover bad debts, business interruption and employer’s liability. Accident, Sickness & Unemployment (ASU) is useful for the self-employed. Group Life Insurance is often offered as an employee perk. Key Person Insurance ensures the business can continue to trade even though a key partner is lost.
Other bespoke insurances include Share Protection, Pensions & Capital, Directors & Staff Benefits, Income Protection, Employer’s Liability and Professional Indemnity.
If the policy has no investment element then it will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.