With a few minor variations, the vast majority of income protection policies for small businesses are identical to those offered to individuals.
Hardly any insurers will offer business cover to one individual.
A few insurers will offer cover to small businesses. Insurers offering business cover, invariably have a limit on the number of individuals insured, below which they will not offer business cover.
There are often advantages, even when insuring only a few individuals, of going for business cover ;
It is a taxable business expense
Insurers may offer discounts from individual rates
Insurers are more willing to listen to requests for tailoring the policy
Most business insurances can only be bought via financial advisors.