Business Protection Advice in Berkshire for Your Company and Key People

PROTECTING THE FUTURE OF YOUR BUSINESS

What would happen to your business if you, a business partner or a key employee, died or became seriously ill? Many businesses rely on a small number of people whose knowledge, experience and relationships are essential to their success. Without suitable protection, an unexpected event could affect your company’s finances, ownership and future. Business protection may help provide financial support when your business needs it most. Contact us today to learn more about us and our services. 

TYPES OF BUSINESS PROTECTION

The most common forms of cover include:

• Key Person Insurance helps protect the business if an essential employee, director or owner dies or becomes seriously ill.

• Shareholder or partnership protection may help remaining owners purchase a deceased owner’s business interest.

• Business Loan Protection may provide funds towards eligible business borrowing following the death or serious illness of a key person.

• Relevant Life Cover, an employer-funded life insurance arrangement that may be suitable for company directors and selected employees.

• The most suitable option will depend on your business structure, financial commitments, ownership arrangements and long-term plans.

WHAT COULD BUSINESS PROTECTION HELP WITH?

Depending on your circumstances, suitable cover may help you:

• Protect your business against the loss of a key person.

• Repay or reduce outstanding business borrowing.

• Fund the purchase of a shareholder’s or partner’s interest.

• Provide financial support for your family.

• Recruit and train a replacement.

• Maintain business continuity during a difficult period.

WHY REVIEW YOUR PROTECTION?

Your business protection may need reviewing if:

• Your business has grown.

• You have taken on new borrowing.

• The value of your company has changed.

• A key employee or director has joined or left.

• Your ownership structure has changed.

• Your existing policies may no longer provide sufficient cover.

• Insurance should also be considered alongside relevant shareholder agreements, partnership agreements, wills and succession plans. Legal and tax advice may be required to ensure everything works together correctly.