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Finding the best Shareholder Protection Insurance in the UK can feel complex. It’s a versatile product which can be set up in a number of different ways, and with a range of different insurers and plans available, the decision-making process quickly becomes overwhelming.
This 2026 guide reviews leading insurers side by side – highlighting claim rates, unique benefits and extra cover – so you can make an informed choice and secure the right protection for your business.
There are a number of ways the policies can be set up, making Shareholder Protection a somewhat complex policy to put in place. The best Shareholder Protection Insurance provider will depend on what type of risk you want to shield your business from, and in what way.
| Protect against death 🪦 | Protect against serious illness ❤️🩹 |
|---|---|
| Life Insurance: Pays out in the event of death or terminal illness during the policy term. Terminal illness is typically defined as an incurable condition where life expectancy is twelve months or less. | Critical Illness Insurance: You can add Critical Illness Cover for an additional premium. This will pay out a lump sum cash benefit if you’re diagnosed with a critical condition. |
| Protect against both ⚔️ | |
| Many Shareholder Protection policies are set up to protect businesses against both the death and serious illness of a key business shareholder. | |
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.
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:
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.
Key features | |
|---|---|
✅ | Business change benefit |
✅ | Instalment option |
✅ | Free life cover during application |
➕ | Optional extras |
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.
Founded in 1836, Legal & General (L&G) is a leading insurance provider with over 180 years of experience.
Key features | |
|---|---|
✅ | Accidental death benefit |
✅ | Policy change option |
✅ | Wellbeing support |
➕ | Optional extras |
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.
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.
Key features | |
|---|---|
✅ | Business care |
✅ | Wellbeing support |
✅ | Children’s cover included |
➕ | Optional extras |
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 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.
Key features | |
|---|---|
✅ | “Underwrite later” feature |
✅ | Cover increase options |
✅ | Wellbeing support |
➕ | Optional extras |
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.
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.
Key features | |
|---|---|
✅ | Children’s cover included |
✅ | Terminal illness and accidental death cover |
✅ | Wellbeing support |
➕ | Optional extras |
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 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.
Key features | |
|---|---|
✅ | Unique rewards and savings |
✅ | Earn cheaper premiums |
✅ | Guaranteed insurability |
➕ | Optional extras |
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 Insurance Group is a global insurer with over 150 years of experience, serving customers in more than 200 countries.
Key features | |
|---|---|
✅ | Free cover during underwriting |
✅ | Advanced payments |
✅ | Terminal illness cover |
➕ | Optional extras |
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.
Finding the “best” Shareholder Protection Insurance will depend on your business’s unique requirements. Here are some aspects to consider.
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.
When comparing policies, look closely at:
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.
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.
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.
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.
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:
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
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.
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.
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
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.
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:
