Without Business Protection, what would happen to your business if you or a key member of staff were to fall ill or die?
Could you work with your Business Partners spouse? Or would they sell their share of the business, possibly to a competitor?
Would you have the money and the agreement to buy the shares?
Would the business still be able to pay you whilst you recovered?
Analysis of your Business Protection requirements will enable us to highlight the issues and recommend solutions such as the ones highlighted below:
Share Holder protection provides a lump sum in the event of a shareholders death to enable the business to buy their shares at a pre agreed price, when coupled with a cross option agreement.
Key person insurance provides funds to cover the loss of a key person. Most companies have one or more key persons that would cause serious harm or even collapse of a company should they fall ill or die.
Income Protection and Critical Illness cover can be taken out either on an individual basis or to provide the company with income should a key member of the team become absent. The premiums can be paid either by the business or the individual depending on the employment status of the person concerned.
Want the tax man to pay towards your Life Insurance?
Relevant life is a way of insuring the life of employees and directors that is tax efficient as it isn’t treated as a P11d benefit, whilst also usually qualifying for corporation tax relief.
Due to changes in legislation you don’t need to be a large company to benefit from these generous tax breaks.
We can offer a bespoke business protection solution including Key person insurance, Shareholder protection, relevant life, critical and life insurance using our extensive industry knowledge and whole of market coverage.
We can also provide fleet insurance for your company vehicles.
Why leave it to chance?
- Business Protection
Our Business Protection specialists offer a FREE first consultation to help you recognise and protect against any issues BEFORE they become an issue.