In the case of a business, it is important to ensure that the business can continue irrespective of the death or long-term illness of one of its Directors, Partners or other key persons. Business Protection aims to reduce the financial impact of death or critical illness affecting key people within your business.
Helping to protect the future of your business
Do you depend heavily on the skills and judgements of others within your business? Are these people vital to its effectiveness and profitability? If so, have you considered the financial impact that the death or critical illness of such a key person would have on your business? The impact could be:
- A loss of profit
- An interruption to cash flow
- An inability to make loan repayments
- A change in shareholder control.
In some instances, the financial impact could be so great that the business would be unable to continue. Business Protection allows you to put in place cover that would ensure that funds become available, should a key person in your business become critically ill or die.