Business Protection Back
Business Protection is there to protect the most important elements of an organisation; the key individuals and the business itself. Protection can assist in making sure the business is compensated for the loss of a key person, making provision for debt repayment or ensuring your business succession plans can be executed without financial concern should the worst happen.
Part of any good business plan is making sure you plan for the unexpected. Of course, it is paramount that you insure the material assets as these are the nuts and bolts that help the business operate. However, Business Protection should not simply be viewed as an optional extra.
Types of Business Protection
Key Person Assurance
Have you considered the impact if a key person, such as a Director or specialist in a certain area, were to die or be diagnosed with a critical illness resulting in them being unable to perform their duties? Key Person Assurance, also known as Keyman Insurance will help your business to recover quickly and minimise the effect on your profits.
What would happen to your shares in the business if you were to die? If they go to a loved one, would this person want to be involved in running a business? If the answer to this is no, Shareholder Protection can address these concerns. It is a simple life policy that pays a lump sum to the surviving shareholders providing them with the capital to purchase the inherited shares from your loved one. This means that they do not have to be part of running the business and the remaining directors can continue running the business how they wish.
Protecting this risk is very important as it ensures that if you are you were to die or be diagnosed with a critical illness, any corporate debt can be cleared giving your business the breathing space to concentrate on continuing operations.
Why choose Pavey Group?
Pavey Group have been in the business of helping corporate clients for over 40 years. We have a wealth of experience in providing solutions for small, medium and large businesses.
We would be delighted to offer you a free review so we can ascertain where the needs of your business lie and how we can help you address those needs. We are independent so you can rest assured, we will provide the right solution for your business.
To arrange a complimentary consultation regarding Business Protection, please contact our Independent Financial Advisers on 0800 038 9733.