Business Protection Plan Insurance

Business protection plans are designed to safeguard the people who matter most to your success, ensuring your business stays on track if anything happens to them, or you.

Key Person Insurance

If you or a member of your team were unable to work for any length of time, or unable to return, what would be the impact on your business?

Whether you are a sole trader, SME or corporate organisation, there will be a key employee or employees whose knowledge, skills and work are critical to business operation and success. Often these will be the business founders, but they can also be company directors and senior managers. If one of these key members of staff were to pass away suddenly or be unable to work due to a serious illness, then this could disrupt business operations and hit profits.

A key person insurance policy will guard your business from the costs associated with losing vital employees. If those people are covered by key person insurance, then the business can claim for a lump sum payment. This can be used to mitigate against losses and/or assist the recruitment of a replacement member of staff.

Ownership (Shareholder or Partnership Cover)

Shareholder and Partner Protection provides a business with a cash lump sum if an owner passes away or suffers a severe illness. This lump sum helps the remaining business owners minimise disruption to the business, by providing capital that enables them to buy that shareholder’s or partner’s shares and keep control of their business.

Loan Protection Cover

Loan protection cover provides peace of mind that your business can repay its borrowing if a shareholder or business partner dies or suffers a severe illness. It provides a lump sum to cover your business loans and other credit facilities, some of which may have personal guarantees or have to be repaid when someone dies.

It helps to protect your business against the unexpected, to help ensure its survival, growth and success.

Death in service

A much-valued employee benefit, death in service insurance provides precious reassurance to your team that, should the unthinkable happen and they die whilst in your employment, their loved ones will receive invaluable financial protection.

Death in service benefits offers employees a tax-free benefit as premiums are not treated as a benefit in kind and payout a lump sum typically based on a multiple of an employee’s salary to the employee’s beneficiaries.