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Business Protection

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Business Protection

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.

*On referral basis only

 

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.

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Derbyshire Mortgages and Protection
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There may be a fee for arranging a mortgage and the precise amount will depend on your current circumstances and complexity of your mortgage needs. For purchases this will typically be £595, remortgages £399 and £199 for product transfers. Complex cases such as adverse, buy to lets and debt consolidation will typically be £695.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Your property may be repossessed if you do not keep up repayments on your mortgage.
Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority.

You may have to pay an early repayment charge to your existing lender if you remortgage.

Think carefully before securing other debts against your home. The overall cost of repayment of other debts might be more when added to your mortgage.

The cost of this insurance depends on several factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances.

As with all insurance policies, conditions and exclusions will apply.

Derbyshire Mortgages & Protection Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Limited, which is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register under firm reference number 982876. Registered Office: 4 Lime Tree Close, Tibshelf, Alfreton, Derbyshire, DE55 5RF. Registered Company Number: 12631487. Registered in England and Wales.
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