Your key employees and shareholders are your biggest assets. With a complete range of business protection plans, we can help keep your business financially strong, should something ever happen to them – or you.
WHAT IS BUSINESS PROTECTION?
Business Protection pays out a lump sum of money to your company, should a shareholder or key person in your organisation die or suffer a critical illness. You can take out either life cover or life cover with critical illness.
HOW DOES IT HELP?
With Business Protection, you’re giving your company an extra degree of long-term stability and reassurance, by enabling your organisation to protect itself against the unforeseen challenges of losing someone essential to the day to day running and to its future success.
Shareholder and Partnership Protection
Shareholder protection ensures business continuity in the event of the death or onset of a critical illness of a shareholder. Shareholder and partnership protection provides the funds needed for the business to buy the shares from the ill partner or shareholder or the deceased’s family, providing a lump sum to those at a time of need whilst ensuring the business retains the shares.
Similar to shareholder protection, keyman insurance covers the business against the loss of any significant person in a business that is not a partner or shareholder due to them passing or becoming critically ill. Keyman insurance can be used to cover the cost to replace that person if they die or have a critical illness or mitigate against the loss of profits. An example of a key person is someone with specific technical experience or expertise that your company requires and would be difficult to replace, or a top salesperson who is responsible for significant revenue generation for the business.
Business loan protection allows you to protect your business loans in the eventuality of the death of a director, partner or shareholder, which would make the repayments more difficult. It is typically a decreasing term life insurance policy which would pay out to cover the business loans and liabilities.
Relevant Life Plans
Available for both Directors and employees, a relevant life policy is a tax efficient way of providing term life cover, for both the business and the employee. Relevant life plans are more flexible than group life or death in service plans and it is a great way to demonstrate to your employees that they are valued. A must have for high earners as it does not form part of the lifetime allowance.
Business Healthcare Plans
Provide private healthcare for your staff which whilst ensuring they have access to the best treatment quickly, and in turn means you can expect to have your employee fully recovered and back to work more quickly, it is a great way to attract and retain staff.
Get in touch with us today to discuss your business protection requirements.
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Telephone: 01709 646525
Address: Way More Solutions Ltd, 19 Silkstone House, Pioneer Close, Wath-Upon-Dearne, Rotherham, S63 7JZ