How would your business fair should its key personnel be taken ill and unable to work? It’s not uncommonly perceived that a business’ most valuable asset is its people, and in fact is a true statement in many businesses. Taking steps to protect to protect your business enables you to maximise opportunities on solid foundations.
Sourcing the correct cover for financial security, ownership / shareholder protection and group life insurance can bring many added benefits to your business. Provide benefits to your employees, protect your business’ future and plan for the unknown.
To discuss the options available to you and your business, contact our team on 01638 551476 where we’d be happy to help.
Providing financial safety if a key member of the business dies, Key Man Cover offers a payment directly to the company or partners in the event of that member’s death. Aimed at providing the business with breathing space to keep it trading as normally as possible, this protection can provide a peace of mind statement within the company policy.
A ‘key man’ is deemed as any member of staff who has a direct impact on the business’ profits, for example the business owner, director, sales person or any employee with specialist skills or experience. The cover is there to aid protection of profits and against debts, covering a variety of business costs such as recruitment, penalties for goods delays, covering owed salaries or paying back overdrafts, amongst many other attributes.
Key Man Cover can also be combined with Critical Illness Cover, to provide further security from diagnosis of a serious illness also.
To find out who this cover can best suit your business, contact our team on 01638 551476.
As a shareholder of a private limited company, an LLP or partner in your business, have you asked yourself whether the company is prepared in the event of your death? It’s not a favoured topic, however being prepared can prevent significant implications further down the line.
Shareholder Protection allows the remaining partners, shareholding directors or members to remain in control of the business following the death of a business owner. It also, perhaps more importantly, puts the premise back to the company to purchase shares back from a deceased shareholder (as opposed to the surviving shareholders).
With many shareholder protection options available to suit differing organisation set-ups, contact us to discuss further.
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