Business Protection

BUSINESS PROTECTION

Shareholder Protection Insurance

If a partner or shareholder in your business were to die would you be able to afford to buy their share of the business? If not there could be serious implication for the future of the business.

Shareholder protection will allow business owners to insure against this situation in conjunction with a suitable share purchase agreement it could help to ensure that control stays with the remaining shareholders or partners. Shareholder protection provides a lump sum when death occurs. This, in turn, could mean the remaining business partners have the funding needed to be able to buy the deceased’s share of the business, providing reassurance for business owners and their families alike.

Key Person Protection

Many small to medium sized companies are often very dependent on a small number of key employees or Directors to drive the corporate vision forwards.

Staff are such an important asset to a business and, therefore, their death or diagnosis of a serious illness can have severe impact on the business. Key Person protection can help to avoid disruption and uncertainty within your business by providing a lump sum in the event of death or critical illness of a key person. This lump sum could then help fund the costs involved in replacing the particular expertise that has been lost.

Relevant Life Cover

Relevant life cover is a policy which can be arranged to provide ‘Death in Service’ benefits on a individual basis regardless of the size of the business.

A relevant life policy is not classed as a ‘benefit in kind’ which therefore means there is no tax payable on the premiums. Benefits are paid tax free, and premiums can be offset against Corporation tax.

Private Health Insurance

Private Health Insurance ensures that employees receive the very best Private Healthcare when they need it. This clearly benefits your employee’s health, but can also expedite their return to work, which will aid your business.

Group Income Protection

Group Income Protection provides ongoing payment of a pre-determined benefit (such as 50% of salary) for employees who are unable to work for any prolonged period of time due to sickness. Sickness benefits are dealt with differently by many employers, from statutory levels up to a full replacement of a percentage of an employee’s salary to retirement. Clearly the latter option would come at a great expense without the appropriate insurance in place. In order to compete with larger employers for the best staff, you want to offer this benefit. Income protection is the ideal way to cover the costs of such an event occurring.

We are committed to working with companies across the UK to help them find the right business protection package for their needs. Please contact us to speak to one of our Independent Financial Advisers to benefit from our expertise.