Business Protection Insurance
Business Protection Insurance is a way of protecting your business in the event of death or critical illness. There are six different types of Business Protection
- Key person insurance
- Director/shareholder protection
- Partnership protection
- Business loan protection
- Sole trader protection
- Relevant life protection
Business Protection Insurance provides vital protection for all types of businesses. Many Businesses view Business Protection as a luxury when they should be factoring into their business plan. With many companies there are “Key” members of that business that keep it ticking along smoothly. As a business owner – you should ask yourself… “If I lost that employee/partner/director due to illness or death – how would that impact on my business? And how could I financially future proof the impact that may cause?”
The Benefits of Business Protection
Business Protection Insurance ensures that you, your employees and the business itself are protected in the event of death or illness by way of:
- Receiving funds to keep the business running in the event of death or illness.
- You can use the funds to replace the loss of key persons
- Protect corporate debt
- Potential tax advantages*
- Buy out a shareholder if they become critically ill or buy their share from their estate if they die.
This is just a basic outline of the benefits that could be offered to your company and our main advice would be – speak to our Business Protection Specialist Katie Pisanu on 01225 667182 – who can guide you through the best cover available for your company.
*we are not taxation experts or accountants so whilst on paper there are tax advantages you would need to consult with your accountant on how best to set the premiums and potential benefit up.