Setting up a plan

We understand that organising business protection can seem complicated. But once you've agreed with a client what cover best suits their needs, we can help guide you through the process of submitting their application.

The information we'll need

As with personal menu plan applications, full disclosure is important. To help us fairly and accurately underwrite your client's application we need as much information as possible. And the more information we get, the quicker we can set up the plan.

Even details which may seem unnecessary are important when setting up a business protection plan. For example, your client's occupation and duties will help us to work out their risk category and the definition of disability or incapacity we can apply to their covers.

You’ll find application forms, financial questionnaires and handy sales aids in our literature library.

We're here to help

You may find your business protection clients are a bit older than your personal clients, so they might have more medical information to tell us. This means applications may take a bit longer to underwrite. However, we give you a case manager and underwriter to look after your applications.

Your case manager will give you regular updates by phone or email and will request any additional evidence for your cases, such as GP reports. You can also contact the underwriter directly to check what information and evidence to include before you submit an application, which can help speed up the underwriting process.

If you don't know who your case manager or underwriter are, or if you're new to us, just give us a call on 0345 6094 500 and we'll put you through.

Financial underwriting

Depending on the type of protection and the size of the case, we may need more financial information to help us underwrite the application, such as:

  • Key person protection - an idea of why the key person is important to the business, their contribution to the net/gross profits, and what it would cost to replace them.
  • Ownership protection - a valuation of the business's share value for shareholder protection purposes.
  • Loan protection - a copy of the loan offer.

If you're unsure about what type of financial information you should include, our underwriters will be happy to help.

Tax and trusts

When putting together a recommendation for a client, you should bear in mind any tax consequences. Whether its income tax, capital gains tax, inheritance tax or corporation tax, it will all depend on the exact arrangement and the type of business they own - a company, partnership or sole trader.

Trusts can help make sure the money from the plan ends up in the right hands at the right time.

There are two main benefits of putting a client's plan in trust:

  • We'll be able to pay a claim more quickly.
  • The payout may be free of inheritance tax – for 2018/19, inheritance tax is payable at 40% on an estate worth over £325,000.

Take a look at our trust tool for guidance on which type of trust and assignment forms to use for business protection.

We also have business protection experts to help you with any tax or technical questions you may have. You can contact them at or on 0345 6094 500.

Get an online quote

Our interactive quote and apply service gives you quicker decisions.


Download or order plan details, application forms and client-facing brochures

Trust toolkit

Our tools can help you find the right trust for your clients

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.