For Business Owners

Adequate insurance is crucial for business owners to ensure they can continue to run their business effectively in any eventuality.

What would happen if one of your key people should suffer a serious illness or even die suddenly? Think about how their skills, knowledge and experience contribute to the financial success of the business and consider the impact on profitability.

Key Person Protection helps protect your business against the financial effects of death, terminal or critical illness of an integral member of your team. It allows you to use the money received for recruitment costs, as a buffer against falling sales, and to manage the costs of disruption or increased workload on other staff members.

Financial problems and leadership are usually the first things affected when a Partner or Director dies. Partner/Director Share Protection covers for this worst case scenario by providing the remaining Partner(s) or Director(s) with a sum of money to purchase the deceased or critically ill Directors’ interest in the business.

You can also take out Business Loan Protection so that any outstanding debts such as an overdraft, loan or commercial mortgage are covered should the loan guarantor die or become critically ill.