• For more information call +44 (0)20 89394545

  • Business Protection

    If one of your key employees suffered from a critical illness or death how would this effect your company? It'sa known fact that in these instances, profitability is affected. It is therefore vital to consider the consequences should this occur in your business. Critical illness or death could also happen to a shareholder, how would you then buy the shares? One needs to consider and evaluate whether there are strategies in place for the financial effects these imply on your business. It goes without saying that the very same challenges which affect families and their loved ones in the event of death or illness can also have a similar affect on a corporate business.

    Company Benefits

    A lot of businesses use company benefits to retain staff and may also be a key factor in the difference between keeping that member of staff or losing them to another company. Having such benefits over and above their salary is a good way of showing that their welfare is important to you and the business. We can also provide advice and recommendation on the following:

    • Group Private Medical Insurance
    • Group Critical Illness Cover
    • Group Life Cover
    • Group Income Protection
    • Group Stakeholder or Personal Pension

    Shareholder / Partnership Assurance:

    If a shareholder dies, or suffers from a critical illness, this insurance plan is designed to pay out in the case where a shareholder dies or suffers a critical illness. This occurance is usually predicated with an signed agreement giving each party an option to pay the lump sum to the estate of the deceased shareholder or purchases the shares of the critically ill shareholder. Being protected in this way will allow dependants and family of a deceased shareholder to maintain their standard of living and be able to relinquish the shares to your company. They may not have the required knowledge of the buisness or an interest in continuing control in the running of the business. In the case where shareholders suffer a critical illness, it may well be that they need the money to support themselves through such a time. It may also be that they are too ill to return to the business, and therefore possibly receiving a lump sum for their shares will be the most logical solution for them.

    Keyman Cover:

    Should a key employee suffer from a critical illness or death. This plan is designed to replace the profit which would be lost should an employee suffer from a critical illness or death. It will allow the company to retain financial security without that employee. Most established and successful large corporates have these protection policies in place. It is however, often overlooked by smaller and medium sized businesses. In reality, these could in fact be even more detrimentally effected in such a situation. Your business more than likely insures it’s stock, merchandise, furniture etc, Possibly you’ve not heard about the ability to insure your key employees who contribute and are vital to the success of your businesses.