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Business Protection

Most businesses in the UK today make sure they are covered against the effects of fire or theft - but many do not consider the financial value of their people. 

Financial protection is a crucial part of the financial planning process for your business. Unfortunately, it is one area that is often overlooked. 

Think about it.  What would happen to your business if a shareholder became critically ill or even worse, died?  This could have the potential to cause significant financial problems for your business. 

For example:
One of the shareholders in your company becomes critically ill.

Possible impacts:
1 Your business may have to run without one of the key people who contribute to its success.
2 The shareholder may be unable to return to work for quite some time - if at all.  However, they may still expect to receive an income from your business despite being unable to contribute.
3 You may need to recruit and train a temporary replacement - therefore paying 2 salaries instead of 1.
4 They may also wish to sell their shares if they decide not to return to work.  How would the other shareholders be able to buy them out?

Do not leave it to chance. Take steps to protect your business today.

Business protection can provide funds on the death of a shareholder. A legal agreement ensures that these funds can then be used to purchase the deceased's shares in the business from their estate. A similar payment can be made if one of the shareholders suffers a critical illness.