All businesses contain people who are key to the success and profitability of the company. Many of these businesses would be severely affected if one of these key people were to die, or suffer a serious illness, or have an accident or sickness suddenly, leading to problems such as a loss of confidence in the company, withdrawal of credit facilities, the need to recruit or train a replacement. In extreme circumstances, it could even lead to the bankruptcy/liquidation of the company. In addition, legislation has extended the possibility of personal liability in the event of a company failing. Business protection in the form of life assurance can help businesses protect themselves against these eventualities and help ensure the continuation of the business. Such plans are relatively simple to effect and can be a cost-effective and tax efficient way for the company to help safeguard its future.