Business
Protection
Business protection insurance is essential for ensuring that your business can continue running smoothly in the event of illness, injury, or the death of a key person. Whether you’re looking to protect your business partners, key employees, or the business itself, we offer tailored solutions that help safeguard your company's future. Our experts will guide you through the different types of cover available, including key person insurance and shareholder protection, ensuring your business remains financially stable even in challenging times.
Frequently Asked Questions
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Business protection is crucial to ensuring the continuity of your business if something unexpected happens to a key person. It can help prevent financial strain, facilitate a smooth transition, and ensure that your business can continue to operate without disruption.
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There are several types of business protection insurance, including key person insurance, shareholder protection, and business loan protection. Each is tailored to protect different aspects of your business. For example, key person insurance helps cover the loss of a crucial employee, while shareholder protection ensures that remaining owners can buy out a deceased or incapacitated partner’s share. We can help guide you to the most appropriate options for your business.
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Yes, even as a sole trader, you can benefit from business protection insurance. While some types of protection, such as key person insurance, may not be relevant, there are other options available, like income protection or critical illness cover, which can protect your personal income and support your business’s financial stability.
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The amount of cover you need depends on various factors, such as the value of your business, the role of the person being insured, and any outstanding financial obligations, such as loans or business debts. We can help you calculate an appropriate level of coverage to ensure your business is fully protected in the event of illness, injury, or death.
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