Business Protection Cover

As a business owner you know what you need to make your business a success. Suitable premises, machinery or tools and your computer systems may all be important. But have you protected what is probably your most important asset, your people?

If something happens to one of the key people in your business, have you stopped to think what the consequences will be and the impact on your business?

Business protection is designed to do much the same as personal protection.  Give you security in the event of the unexpected happening to you or one of your directors, shareholders or key employees?

 Most small to medium sized businesses rely on a small number of key people to fulfil vital roles within the organisation. As Protection Advisors, we recommend you ask yourself the following questions:
 

1. If one of your key employees die or suffers a critical illness e.g. the Sales Director, will this have an impact on the ongoing income of the business, even on a temporary basis?  Will profits be impacted? How easy or expensive will it be to recruit a replacement? Will you have to repay any loans they had made to the business?
2. If one of the business owners were to die or suffer a critical illness, what impact will this have?  Will they or their family look to sell their share of the business and if so, to whom?  Will the remaining owners have the funds available (or right) to buy their share from them? As a remaining owner how will you feel if their share is sold to someone you don’t know well?
3.  If share ownership passes to another family member, are they qualified to contribute successfully to the ongoing running of the business?

    Business protection solutions are available and are designed specifically to:

•  Protect income and profitability in the event of an illness or death of a key member of staff. 
•  Ensure the remaining business owners retain continued control of their business in the event of death or critical illness of one of the business owners.
•  Ensure the estate of a deceased owner receives fair value for their share in the business, should it be sold to other owners.
•  Be set up in a tax efficient manner.

 Business protection packages can be tailored to suit individual businesses to meet their needs and priorities. 

We do not charges any fees for advice on our range of insurance products.

 If you would like an initial no obligation discussion  with Susan Smith our dedicated Business protection adviser please give us a call on 01257 270729 or simply complete our Contact Form