You never know what’s around the corner, but Corporate Business Protection insurance can help make sure you stay protected against the possible financial losses associated with critical illness or death
of a business owner or key individual.
To help ensure the long term financial security of your
business you can take protection insurance for:
Life cover, Serious illness, Income protection.
Shareholder protection allows the remaining partners / shareholding directors or members to remain in control of the business following the death or specified critical illness of
a business owner paying out and purchasing the individuals shares placing them back into the company.
A relevant life plan is a life insurance plan available to employers to provide individual death in service benefit for an employee. This is aimed at:
Employers providing a ‘death in service’ scheme but their company does not have enough employees
to set up a group scheme
Directors wishing to provide their own individual ‘Death in Service’ benefit without taking out a scheme on all employees
KEY PERSON PROTECTION
Put simply this is a business insuring itself against the financial loss it would suffer if a key person in their business died or was diagnosed with a specified critical illness. This policy is owned and paid for by the employer.
BUSINESS LOAN PROTECTION
Business loan protection is a life assurance and/or critical illness policy. The money from a claim
can be used to repay:
· Outstanding overdraft
· Business loans
· Business credit cards
· Commercial mortgage
· Director loan account
(must be paid off upon death)
AND CONTENTS INSURANCE
Policies can either cover your building, or its contents. Some policies will cover a combination of both.
Landlord Insurance goes further than regular Home Insurance – it protects you from the extra risks associated with renting out your property.