Business Protection
This type of policy is used In order to help protect a business against possible financial losses due to the death or diagnosis of a critical illness of a director, partner or Key Person.Aspects of this type of protection are:
- Shareholder Protection – Protect your business and the remaining directors or partners against the potentially massive liability of having to repay the family of a deceased director or partner in the event of their demise. This can also include critical illness cover.
- Loan Protection – Does your business have loans outstanding? These may well be secured against personal property or assets and it is essential that they could be repaid in the event of the death or critical illness of a business owner or director
- Key Man Insurance – Could your business really survive the death or illness of a key employee who brings in revenue or ensures the smooth running of the company? Key man insurance could provide an injection of cash into the business to help cover the loss of revenue and potential recruitment of a suitable replacement.
- Relevant Life Cover – Are you a salaried director of your company? It is possible that substantial life and even critical illness cover may be available to you as a tax deductible business expense (subject to HMRC approval, please check with your tax adviser). Please contact us to discuss the options available.
Contact us now for a no obligation review of your protection needs.