Protecting your business, key individuals and share holders from significant losses
Speak to one of our experienced brokers who can tailor make a package that will suit your individual needs and budget.
Running a business can be a hugely rewarding but challenging experience, and unforeseen events can cause disruption, or even put the stability of a business at risk.
Whilst no one can predict the future, Business Protection is there to help your company continue to thrive in the unfortunate event of a key employee, business owner or director suddenly becoming critically ill or passing away.
A key person is any member of staff who has a direct impact on the business’s profits. They could be a business owner, director or any employee with specialist skills. Key Person cover is life insurance taken out by a business on the life of a crucial person in the business. The policy is paid directly to the company or partners.
Business protection is available to all kinds of business structures and can also be used to ensure repayment of a business debt in the event of death or critical illness of an owner, director, partner, key person or sole trader.
Whilst no one can predict the future, Business Protection is there to help your company continue to thrive in the unfortunate event of a key employee, business owner or director suddenly becoming critically ill or passing away.
A key person is any member of staff who has a direct impact on the business’s profits. They could be a business owner, director or any employee with specialist skills. Key Person cover is life insurance taken out by a business on the life of a crucial person in the business. The policy is paid directly to the company or partners.
Business protection is available to all kinds of business structures and can also be used to ensure repayment of a business debt in the event of death or critical illness of an owner, director, partner, key person or sole trader.
FAQ
1. What is Business Protection, and why is it important for business owners?
Business Protection is a range of insurance products designed to protect a business and its owners against various risks, including the death or illness of key personnel or partners. It helps ensure business continuity.
2. What are the main types of Business Protection policies?
The main types include Key Person Insurance, Shareholder Protection Insurance, and Business Loan Protection. Each addresses specific business risks.
3.. How do I determine the appropriate level of Business Protection for my company?
The level of coverage depends on factors like the value of the business, the roles of key personnel, and any outstanding debts or liabilities. Consulting with a financial advisor is essential to assess your needs.
4.. Can Business Protection policies be tax-efficient for a business?
Yes, some Business Protection policies can have tax advantages, such as tax-free payouts for beneficiaries. Consult with a tax advisor to understand the tax implications fully.