Business Protection

This type of arrangement is owned by the business but covers the employees. It will payout in the event that a member dies whilst an employee, though not necessarily at work. Group schemes can prove more cost-effective than offering individual life insurance policies and are also very flexible, with the possibility of covering a number of employees at different levels under one plan (with different categories of cover for e.g. office staff or senior management). Benefits can be calculated as a fixed amount or a multiple of salary.

Should you need to make a claim, the business will receive a tax-free lump sum to be paid to the bereaved family or dependants, which will help them to cover any financial hardships at an extremely difficult time.

The death of a respected colleague as shareholder or part-owner of a company can be devastating, and the time afterwards should not be filled with concern over the security of your business.

With shareholder protection insurance in place, you will know exactly what will happen should a stakeholder pass away. Upon death, a stakeholder’s shares may pass to a family member who may not share the same values and goals for your business: a change in control could seriously jeopardise the success of your business. However, the lump sum payment to the business provides the capital to immediately purchase the shares so the business can continue as usual, as quickly as possible.

We can help you assess your circumstances and take into account your preferences in order to find the right policy that will maintain the stability of your business.