Eliminate the potential risks of uncertainty with business protection insurance.
Ensure continuity and safeguard your company in the event of an operational or financial fall-out with Business Protection insurance.
WHAT DOES IT COVER?
Business Protection insurance offers a variety of plans that shields you from operational disruption during an unprecedented event such as one of your key people or business owners’ premature death, critical illness, or disability. It covers employees, partners, shareholders, and even group risk benefits. It may also be used to ensure the repayment of existing business loans and credit facilities.
HOW DOES IT WORK?
The set up depends on your business’s particular structure and needs. Whether you’re a sole trader, partnership, or a limited company, an assessment of your business protection requirements must be done as well as considering the potential impacts of unfortunate events such as losing key people, shareholders or partners in the business.
- Business Liabilities – works in the same way as personal mortgage
- The sum assured is equal to the debt
- The term is the same as the debt term
- The Policy is owned by the business
- The business receives the assured amount if claims are filed
- Key Person Cover – anyone whose permanent or temporary loss impacts your business operations and profitability
- Identify key people and agree on their contribution value
- Consider significant financial costs (recruitment of replacement, paying key person’s salary, loss of revenue due to loss of key person)
- Shareholder and Partnership Protection – in the event of an owner’s death or disability, a plan is set in place detailing business succession to protect the partners and shareholders, family, and employees.
Business Protection Insurance
Sounds complicated? Worry not! Our business protection insurance specialists will guide you through with expert support to answer all questions you may have.
THE BUSINESS PROTECTION PROVIDERS WE WORK WITH ARE:
BUSINESS PROTECTION INSURANCE
We are a friendly, helpful team of expert business protection insurance advisors and we’d love to assist you.