Ageas Protect has launched a new business protection product range to provide businesses with financial support if a crucial member of their company dies or becomes critically ill.
In May last year Money Marketing revealed the provider was looking to enter the sector. Initially, it planned to enter the sector towards the latter part of 2012.
From today the provider will offer term assurance or critical illness with term assurance for a nominated key person, a shareholder or a business partner.
Ageas Protect managing director Darren Spriggs says: “Most businesses buy insurance to cover the things they consider vital to business continuity, such as buildings, stock and equipment. But their most vital asset is their people – so it makes sense to offer businesses a flexible product which covers their key personnel and helps them plan for all eventualities.
“We’ve been working hard to make sure we offer intermediaries a wide range of products which are supported by our flexible underwriting, online capability and technical support. A business protection product is the next step in meeting the needs of our customers.”