Protection against the loss of your key people
To help ensure the survival of your business it’s important that the business has planned ahead, this could include considering putting suitable protection in place against corporate risk.
Business protection is a way of helping to protect against possible financial losses in the event of the death or specified critical illness of a business owner or key individual, during the length of the policy. It can help ensure that your business survives and continues trading during difficult circumstances.
To help ensure the long term financial security of your business in the event of losing key people to death, terminal or a specified critical illness, speak to us today to find out how we can help.
Protecting your business is essential and our experience enables us to accurately identify potential risks your business could encounter. We can ensure you have the means to replace key individuals, eliminate corporate debt and provide the means to purchase the shares of the business should the worst happen.
Our dedicated corporate risk team can provide effective and good value life assurance, income protection, critical illness and business protection schemes for you and your employees.
- Key Person Insurance – When a key person in a business dies or suffers a serious illness it can have a devastating financial effect both in terms of lost revenue and staff replacement costs. You can safeguard your business against the death, terminal or critical illness of a key person with key person protection.
- Shareholder/Ownership Protection – In the event of a shareholder’s death or serious illness, one of the most important things to a business is to ensure continuity. Shareholder Protection can help ensure that you retain control and provide the necessary funds to purchase the shares.
- Loan Protection – will provide a lump sum to repay debt in the event that, as a result of death or serious illness of a key individual, the company can repay outstanding debt.
Ask yourself these questions:
- Does my business rely heavily on one or more key individuals?
- Could my business survive without those individuals?
- What could go wrong if a business owner were to die or be diagnosed with a critical illness?
- How would I retain control of the business?
- Do I have a written agreement in place as to what would happen?
If you are unsure as to the answers then we would be happy to chat through your options in addressing the solution.