Businesses understand the need to manage the risks they face every day…
They insure their premises, equipment and stock against fire, flood and theft. They insure their vehicles. But many don’t stop to think what would happen if they lost their most important asset- their people.
Also In This Section:
Losing a partner or shareholding Director can have a major impact on the success of a business. Could your business continue if one of the owners were to die or suffer a critical illness?
Business protection can ensure that:
- The remaining business owners retain continued control of the business
- The estate of the deceased owner gets a fair value for selling their share of the business- and the business can afford to buy them out.
- Any arrangements are set up in a straight forward, tax efficient way.
Cover can be arranged to meet the individual needs of all types of companies. You can choose what type of policy suits you and your team, the term of the cover and which benefits are included (life cover, critical illness cover and income protection).
The benefits can be used to help fund a temporary replacement, repay an outstanding loan to aid cash flow, contribute to medical care to speed recovery or simply tide the business over in a period of reduced activity.
There are no hard and fast rules when assessing the financial value of a key person as each key person must be dealt with on their own merits. Modern protection menu planning allows us to tailor a package specific to your needs.