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Aegon business protection showcase page

Business protection website:

Secure Online Contact Form:

Pre-Submission Underwriting Helpline: 03457 835473

Sales enquires: [email protected]

Claims: 03456 000493

General: 03456 001402

Opening Times: all of the above phonelines are open 8.30am-5.30pm Monday-Friday

Please don’t email any personal, financial or banking information as it’s not a secure method of communication.

Protection Guru has worked with Aegon to create a concise objective analysis of their product range.

Aegon in their own words

“We want to help people achieve a lifetime of financial security and believe by helping your clients protect themselves against life’s uncertainties, you can help improve their financial wellbeing.

Business protection made easy

We have a flexible, purpose-built Business Protection menu designed specifically for the corporate market. Our team of business protection specialists, as well as our dedicated large sum assured team, have the knowledge and expertise to help you build bespoke solutions for your clients.

We’ve used our wealth of experience to develop an online business protection toolkit – giving you all the support and information you need at your fingertips to understand, discuss and write business protection. Our toolkit also includes the Vault – your one-stop-shop to sample material, sales aids, technical factsheets, videos and more.”

The business protection menu

Aegon’s Business Protection menu provides a range of flexible and comprehensive options to suit all types of businesses.

Advisers arranging multiple covers for a single insured person can do this through a single online application, across the full range of different benefit types. Not only does this save time, but clients can also take advantage of multi-benefit discounts.

Hover over the images below to find out about the different types of business clients and the solutions Aegon offer.

Immediate Cover

Aegon recognise that business clients may need to put cover in place quickly, particularly if a policy is being arranged as part of a loan or investment agreement, but that applications can be delayed because of requests for medical evidence, especially for high sums-assured or older clients.

Aegon’s immediate cover facility (ICF), available on both their Business Protection and Relevant Life policies, helps get clients protected more quickly whilst their application is being assessed. ICF is not only available on life protection, but also critical illness cover, giving advisers the added peace of mind that they can offer their clients the full range of solutions.

Up to £3.5 million

The maximum benefit amount on immediate cover for life protection.


Includes critical illness cover

Unique to Aegon, immediate cover also applies to up to £1.5m of CI


6 months

The maximum duration a policy can remain on risk whilst waiting for medical evidence to be returned, (3 months for critical illness cover).



Number of cases fully underwritten within 6 months in 2019.


Protecting the income of business owners and employees

Executive Income Protection

Aegon’s executive income protection policy allows a business to cover the costs of paying employment benefits to an employee or director who is unable to work due to illness or injury.

The policy provides a range of flexible options to suit different client needs, including both full-term and  2-year payment periods, up to £160,000 p/a maximum benefit, employer NI and pension contribution cover and rehabilitation/proportionate benefits. Full-term and 2-year payment options can also be combined within one policy, allowing the client to cover different liabilities based on the required term.

Pension contributions & National Insurance

Clients can cover employer National Insurance and pension contributions, up to £30,000 p/a, helping to ensure the employee can continue to save for their retirement.



It’s not unusual for people to change jobs multiple times in their career, so Aegon has designed its executive income protection to be flexible enough to move to a new employer, if the employee changes jobs and wishes to take the policy with them. The policy can be transferred to the new employer, who takes over the monthly premiums to maintain the cover.

Rehabilitation & proportionate benefit

Aegon recognises that as employees recover from an illness or injury, while they may no longer be able to carry out their normal occupation, they may be able to return to work with fewer duties or working less hours. Or could even take up different work within the same company at a lower income. To help the employee return to work, Aegon can pay a reduced benefit amount to help top up the employee’s reduced pay

Protecting Key People

The loss of a key employee through death or ill health can have a significant impact on a business, particularly smaller, less well-established firms. A temporary or full-time replacement will need to be recruited, loans and other business borrowing may need to be repaid and any lost profits covered.

Aegon offers a flexible range of business continuity planning solutions, designed to help businesses manage should the worst happen. As well as the more common key person life and critical illness cover, Aegon also offers key person income protection, providing a valuable additional solution for business clients.

Key Person IP
Instalment Option
loan protection

For benefit amounts of at least £250,000 on life or critical illness key person cover, clients can opt to take any benefit payment in 5 equal instalments. This can assist a business with its tax planning should a claim arise and may be particularly helpful when corporation tax rates rise in 2023.

(This option must be selected at the start of the policy)

Relevant Life Insurance

Aegon’s Relevant Life insurance provides a tax-efficient solution for directors to arrange life insurance cover for themselves and have their company pay, as well as for smaller businesses to provide a death-in-service benefit to a single employee.

Unlike some Relevant Life policies on the market, Aegon does not require the company (i.e. the owner of the policy) to be a corporate trustee. This can be particularly useful where the insured person is also the sole shareholder director of the company, because in the event of their death there wouldn’t be delays in having to appoint a representative for the company to act as a trustee. Clients can complete the trust quickly and easily online, using Aegon’s signature-free trust.

Clients applying for a Relevant Life policy with Aegon may also be eligible for their immediate cover facility. This provides full cover of up to £3.5 million for a maximum of 6 months, whilst waiting for medical evidence to be returned.


Aegon’s Relevant Life policy is easily portable, allowing the client to move the policy to a new employer or switch to an individually owned personal policy. Unlike most insurers, Aegon impose no time limit on moving the policy and because of their specially designed Relevant Life trust, the client can easily move the policy around any time they change employer.  

Providing More than just financial security for businesses

Roll your mouse over or touch to expand

Key Person Replacement Service

Second Medical Opinion Service

Health and Wellbeing Service

Try it yourself!

Advisers with an Aegon agency can access the health and wellbeing service. Click here to find out more and to login to the Health Assured site. 

Helping advisers give the best possible advice

As well as having a highly experienced team of technical specialists on hand, Aegon has an extensive range of tools and guides to assist advisers. Together these resources can help advisers identify business protection opportunities, better understand the needs of their clients and the appropriate solutions to recommend.

Click the image above to download the guide

Aegon’s dedicated team of Protection Development Managers work closely with advisers. They can help develop professional connections and generate client referrals and have the knowledge and expertise to help advisers build bespoke solutions for their clients. 

Aegon offers a range of tools to aid advisers in engaging with their clients on business protection insurance, including a relevant life calculator, premium equalisation calculator and liability audit.

View the full toolkit here

Aegon have an experienced underwriting team with an excellent understanding of assessing large sum-assured cases. 

Areas we would like to see Aegon improve

  • Do not currently offer the range of support services that some insurers provide. Virtual GP services and certain preventative benefits can be particularly useful for business owners.

Protection Guru has worked with Aegon to create a concise objective analysis of their product range. Aegon have had input to the design of this page and contributed to the cost of the construction and maintenance, however Protection Guru have maintained editorial control over the content to ensure objectivity.

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