Who Are the Best UK Shareholder Protection Insurance Providers 2026?

Which Shareholder Protection Insurance Is Best In 2026?

There are a few major UK Shareholder Protection Insurance providers to choose from, each with their own processes and policy features.

There’s no one-size-fits-all when it comes to protecting your business. The “best” product for you won’t necessarily be the best for someone else, as it all depends on your unique situation. That’s why it’s important to compare quotes and policies from different providers. And the cheapest quote isn’t always the best.

How We’ve Chosen Our Top Providers

As an independent insurance broker, we deal with a number of leading Shareholder Protection insurers every day. We’ve weighed up the key features and benefits of each provider’s offering to create this shortlist of Best Shareholder Protection companies. Details we’ve compared include:

• Claims payout rates
• Defaqto rating and Trustpilot review scores
• Free policy benefits
• Optional policy add-ons.

Aviva

Aviva is one of the UK’s leading insurance providers, offering a wide range of financial services such as insurance, investments, pensions, and retirement planning.

• Product options: Life Insurance, Life and Critical Illness Cover
• Cover options: Level, decreasing, or increasing
• Defaqto rating: 5⭐
• Claims payout rate: 97.1% of all protection claims in 2024
• Online trusts: Yes

What Aviva Customers Say

As of November 2025, Aviva currently has over 52,000 reviews on Trustpilot (73% of them giving 5⭐), giving them an average “Excellent” score of 4.3/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about an Aviva Shareholder Protection policy.

Legal & General

Founded in 1836, Legal & General (L&G) is a leading insurance provider with over 180 years of experience.

• Product options: Life Insurance, Life and Critical Illness Cover
• Cover options: Level, increasing, whole of life
• Defaqto rating: 5⭐
• Claims payout rate: 97% of all Life Insurance claims in 2024
• Online trusts: Yes

What L&G Customers Say

As of November 2025, Legal & General currently has over 26,000 reviews on Trustpilot (57% of them giving 5⭐), giving them an average “Excellent” score of 4.3/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about a L&G Shareholder Protection policy.

LV=

Liverpool Victoria (LV=) is a large provider of protection and financial products in the UK. Founded in 1843, LV started out as “The Liverpool Independent Legal Victoria Burial Society” and sold Life Insurance at the cost of a penny per month. Now with over 180 years of experience, it offers a range of protection products and has acquired over 1.28 million customers.

• Product options: Life Insurance, Life and Critical Illness Cover
• Cover options: Level, inflation-linked, or decreasing
• Defaqto rating: 5⭐
• Claims payout rate: 90% of all protection claims in 2024
• Online trusts: Yes

What LV= Customers Say

As of November 2025, LV= currently has over 81,000 reviews on Trustpilot (80% of them giving 5⭐), giving them an “Excellent” score of 4.5/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about an LV= Shareholder Protection policy.

Royal London

Royal London is the UK’s largest mutual insurance and pensions provider, trusted by over 8.6 million customers. Since 1861, they’ve been protecting families, homes, and businesses with a wide range of customisable Life Insurance options.

• Product options: Life Insurance, Life and Critical Illness Cover
• Cover options: Level, decreasing, or increasing
• Defaqto rating: 5⭐
• Claims payout rate: 98.7% of all protection claims in 2024
• Online trusts: Yes

What Royal London Customers Say

As of November 2025, Royal London currently has over 4,500 reviews on Trustpilot (77% of them giving 5⭐), giving them an “Excellent” score of 4.6/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about a Royal London Shareholder Protection policy.

Scottish Widows

Part of the Lloyds Banking Group, Scottish Widows is one of the UK’s oldest financial institutions, founded in 1815. With over 200 years of experience, they have built a strong reputation for stability and customer care, offering a wide range of protection, pension, and investment products.

• Product options: Life Insurance, Life and Critical Illness Cover
• Cover options: Level, decreasing, or increasing
• Defaqto rating: 5⭐
• Claims payout rate: 98% of all protection claims in 2024
• Online trusts: No

What Scottish Widows Customers Say

As of November 2025, Scottish Widows currently has over 10,000 reviews on Trustpilot (71% of them 5⭐), giving them an “Excellent” score of 4.5/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about a Scottish Widows Shareholder Protection policy.

Vitality

Vitality combines comprehensive cover with innovative benefits. With over 1 million members, it offers a unique rewards system, helping policyholders to live a healthier, more rewarding life.

• Product options: Life Insurance, Life and Serious Illness Cover
• Cover options: Level, decreasing, or indexed
• Defaqto rating: 5⭐
• Claims payout rate: 91.9% of all protection claims in 2024
• Online trusts: Yes

What Vitality Customers Say

As of November 2025, Vitality currently has almost 59,000 reviews on Trustpilot (71% of them 5⭐), giving them an “Excellent” score of 4.4/5 stars.

Speak to us about a Vitality Shareholder Protection policy.

Zurich

Zurich Insurance Group is a global insurer with over 150 years of experience, serving customers in more than 200 countries.

• Product options: Life Insurance, Life and Critical Illness, Critical Illness Cover
• Cover options: Level, decreasing, or increasing
• Defaqto rating: 5⭐
• Claims payout rate: 99.8% of all protection claims in 2024
• Online trusts: Yes

What Zurich Customers Say

As of November 2025, Zurich currently has over 3,300 reviews on Trustpilot (61% of them 5⭐), giving them an “Average” score of 3.6/5 stars. Note that this is for the company as a whole, rather than just the protection division.

Speak to us about a Zurich Shareholder Protection policy.

How to Choose the Best Shareholder Protection Insurance Companies

Finding the “best” Shareholder Protection Insurance will depend on your business’s unique requirements. Here are some aspects to consider.

Step 1: Think About Your Business Needs

Shareholder Protection is perhaps the most complicated protection insurance. There are various different ways to set it up, so the best option for your company depends on your circumstances.

While at its core it offers fairly simple Life Insurance (with the option to include Critical Illness Cover for an additional premium), there are multiple providers – each with a slightly different offering. You might find that the best provider differs amongst the same group of shareholders.

For this reason, it’s best to speak to one of our specialists. We know the market inside-out, and have experience finding the best Shareholder Insurance companies for the needs of all different businesses. Call 02084327333 or email help@drewberry.co.uk to discuss your shareholders’s unique needs.

Step 2: Compare the Key Features

When comparing policies, look closely at:

Maximum Cover

Each provider has a different maximum benefit you can insure yourself for. This ceiling is higher for Life Insurance only compared to combined Life Insurance with Critical Illness Cover.

Critical Illness Coverage

If you want to add Critical Illness Cover to your plan, don’t just look at the number of illnesses the policy covers, but also how the insurer defines those illnesses. These definitions determine how easy it will be to claim for any particular condition.

Successful Claims

Most major insurers publish annual claims figures, indicating how likely they are to pay out. Though it’s important not to focus too strongly on them, as they’re part of a bigger picture.

Online Trusts

Depending on how you arrange Shareholder Protection, you might need a trust to protect the payout from taxation. This ensures the remaining shareholders get the full benefit if you need to claim. Most insurers offer online trusts, but not all – your adviser can help you set up the policy in the most tax-efficient way.

Additional Benefits

Shareholder Protection Insurance often comes with a range of free additional benefits alongside the core insurance.

For example, common benefits often available with cover include:

• Telephone helplines on a variety of everyday issues, such as money worries, family concerns, relationships and legal issues
• Mental health support / counselling
• Second medical opinion service, offering access to leading clinicians to review a recent medical diagnosis
• Digital GP services.

Step 3: Understand the Cost

The price of Shareholder Protection Insurance depends on a number of factors unique to your business and your employees. Premiums vary a lot between providers, so always get multiple quotes and make sure you’re comparing like-for-like.

It’s crucial to understand what’s not covered before you buy, and the policy needs to be set up in a certain way to ensure that any risks specific to your business are covered.

This is why we always recommend speaking to an independent adviser before taking out a policy. We’ll take the time to understand your unique needs, and will search the market to find you the most suitable policy. Call 02084327333 to chat through your options with one of our friendly advisers.

There’s no one-size-fits-all when it comes to Insurance. The “best” Shareholder Protection Insurance company for your business won’t necessarily be the best for someone else’s, as it all depends on your unique situation. It’s crucial to compare quotes and policies from different providers. And the cheapest quote isn’t always the best.

Rauri Taylor
Independent Protection Specialist

How To Get The Best Shareholder Protection Insurance

You have two options when it comes to getting the best Shareholder Protection Insurance policy for your needs. You can either go directly to an insurer, or buy cover through an adviser, such as Drewberry.

Go Direct To An Insurer – Best if You Know What Policy You Want

With this method, you’ll need to approach every UK insurer and compare quotes/policy details from all of them to get the best deal.

Once you have some figures, you’ll also need to compare Shareholder Protection Insurance policies to ensure you get the most suitable cover. This involves a lot of fine print and insurance jargon.

Get Independent Advice – Best if You Need Help Choosing

This is the smart choice. An independent adviser (like our Drewberry specialists) will consider your circumstances fully to make sure you get the best Life Insurance for your needs.

We do all the hard work for you, comparing leading insurers on your behalf so you can be sure you’ve got the best deal for your needs. Where we provide a regulated advice service, we’re responsible for the advice we provide to you – giving you protection and peace of mind.

The cheapest policy isn’t always the best one. Your protection adviser can work with you to balance out the right policy features with a price that fits your budget.

Samantha Haffenden-Angear
Independent Protection Specialist

Get Shareholder Protection Insurance Quotes and Specialist Advice

With a number of UK Shareholder Protection Insurance companies to compare, there’s a lot of information to sift through. Luckily, we live and breathe protection, and are ready to chat about what’s best for you.

We’ve helped thousands of people to protect their most important asset – themselves. Call 02084327333, email help@drewberry.co.uk, or compare quotes to get started.

Why Speak to Us?

You give so much to your business. That’s why you deserve first class service when it comes protecting it. Here’s why you should talk to us:

• No fee for our service
• Award-winning 🏆 independent insurance advisers, working with leading UK insurers
• You’ll speak to a dedicated specialist from start to finish
• 4083 and growing independent client reviews rating us at 4.92 / 5
• Claims support when you need it most
• Authorised and regulated by the Financial Conduct Authority. Find us on the financial services register.