As a buisness owner you know what you need to make your business a success. Suitable premesis, machinery or tools, and your computer systems may all be important. But have you protected what is probably your most important asset - your people?
How would you cope without your people?
In most small and medium sized companies the success of the business depends on just one or two key people. If you've worked with these people for years it's easy to underestimate just how valuable they are, how much they know about company, how many extra hours thye put in.
But we can never be sure what's around the corner. Sometimes, without warning, life throws the unthinkable at us. And that's why business protection is so important. You can't predict the future, but you can make sure you have the right protection in place to keep your business afloat if a key person becomes critically ill or dies.
What is business protection?
It's an insurance contract that protects your business from the effects of key people being diagnosed with a critical illness or dying. You can use business protection to prtect financial commitments as well as key people.
Types of business protection
- Loan protection - insurance to make sure a loan is repaid on the death or critical illness of a key member of the business
- Ownership protection (or shareholder protection) - insurance which gives the owners of the business a cash lump sum to buy a share of a co-owner who becomes critically ill or dies
- Key person protection - insurance against the loss of profits that could result from the critical illness or death of a key person, by paying out a cash sum so the business can continue trading
Want some advice about Business Protection?
If you are a business owner then a meeting with a specialist business protection adviser will help you to understand whay type of package you need to secure your business.
Complete the form below or give us a call on 01237 472 321 and we can arrange a convenient time to meet.