Legal & GeneralLegal & General Business Protection is an insurance product designed to protect businesses from financial losses due to the death or disability of a key person. This type of policy helps reduce the financial risks associated with the loss of a key employee, allowing companies to maintain their operations and profitability in the event of such an occurrence. This article will discuss the different aspects of Legal & General & what they offer, including cover options, eligibility requirements, and how this type of policy can benefit businesses.

Businesses may find Legal & General Business Protection an attractive option when considering ways to protect themselves from financial losses due to the unexpected death or disability of a key employee. This article will examine the different aspects of Legal & Generals offer in greater detail in order to help businesses make informed decisions about their needs.

What Business Protection Does Legal & General Offer?

Shareholder Protection – Limited Liability Partnership members, directors, or company partners can all obtain a policy that pays out to the surviving business partners and shareholders. The cover is written in trust and is subject to a cross option agreement or other appropriate arrangement. The trustees receive the proceeds and distribute them to the beneficiaries, who can use them to purchase the deceased’s part of the company from his or her estate.

Key Person Protection – The company can set up a policy to help guard against financial loss brought on by the discovery of a terminal illness, a critical sickness (if desired), or the passing of a key person.

Business Loan Protection – The company may set up a plan to assist in paying back an unpaid business overdraft, loan, or commercial mortgage.

They pay out a single, lump-sum payment. Your policy will then expire, and you won’t have any cover after that.
You can choose to have one or two persons covered by the policy (Joint Life Cover).
They will only distribute the lump sum for Joint Life Insurance once. When the first person passes away or makes a legitimate claim prior to the policy’s expiration, the policy is no more.  They provide a replacement cover option that can let the other insured people obtain a new single life insurance policy, ensuring they are still protected.

What is covered?

You are covered for 90 days from when they receive the application. This means that they will pay out the amount you have asked to be insured by up to £300,000 in the event that you pass away as a result of an accident within this time.

In order to make sure they are adequately protected against the death or diagnosis of a critical illness of an insured employee, businesses should always read through the terms and conditions of their policy carefully when taking out legal and general key person insurance. Doing so will help them to understand precisely what is covered and how much they can expect to receive in compensation if required.

Indexation – Your policy will be protected from inflation by indexation. They provide you with the opportunity to increase your insurance coverage each year (up to a maximum of 10%), in accordance with any increases in the Retail Prices Index (RPI)*, without requiring any additional medical documentation.

What isn’t covered

  • Suicide
  • Taking part in dangerous sports or hobbies
  • Engaging in or attempting to engage in any aerial flight that is not on board a certified airline as a paying passenger.
  • Committing, trying, or instigating a crime or an assault.
  • Whether proclaimed or not, war, a riot, or other civic unrest.
  • Consuming alcohol or drugs (unless these drugs were prescribed by a UK-licensed doctor).

Legal & Generals Product Range 

Legal & Generals Product Range

Critical Illness’s Covered

Alzheimer’s disease – resulting in permanent symptoms.Aorta graft surgery – requiring surgical replacement.
Aplastic anaemia – with permanent bone marrow failure.
Bacterial meningitis – resulting in permanent symptoms.
Benign brain tumour – resulting in either surgical removal or permanent symptoms.
Blindness – permanent and irreversible.
Cancer – excluding less advanced cases.
Cardiac arrest – with insertion of a defibrillator.
Cardiomyopathy – of specified severity.
Coma – with associated permanent symptoms.
Coronary artery by-pass grafts – with surgery to divide the breastbone or anterolateral thoracotomy.
Creutzfeldt-Jakob disease (CJD) – resulting in permanent symptoms.
Deafness – permanent and irreversible.
Dementia – resulting in permanent symptoms.
Encephalitis – resulting in permanent symptoms.
Heart attack – of specified severity.
Heart valve replacement or repair – with surgery.
HIV infection – caught from a blood transfusion, physical assault or accident at work.
Kidney failure – requiring permanent dialysis.
Liver failure – of advanced stage.
Loss of hand or foot – permanent physical severance.
Loss of speech – total permanent and irreversible.

Major organ transplant – from another donor.
Motor neurone disease – resulting in permanent symptoms.
Multiple sclerosis – where there have been symptoms.
Multiple system atrophy – resulting in permanent symptoms.
Open heart surgery – with median sternotomy.

Paralysis of a limb – total and irreversible.
Parkinson’s disease – resulting in permanent symptoms.
Primary pulmonary hypertension – of specified severity.
Progressive supranuclear palsy – resulting in permanent symptoms.
Removal of an eyeball – due to injury or disease.
Respiratory failure – of advanced stage.
Spinal stroke – resulting in symptoms lasting at least 24 hours.
Stroke – resulting in symptoms lasting at least 24 hours.
Systemic lupus erythematosus – with severe complications.
Third degree burns – covering 20% of the surface area of the body or 20% of the
face or head.
Traumatic brain injury – resulting in permanent symptoms


Legal and General are a great option for business protection and offer comprehensive cover at a great price. Their application process is easy and they have great customer service. The payout ratios are great and the illnesses covered are comprehensive. We at BizzAssured have placed lots of our clients with Legal & General in the past and had no issues.