Business Protection

Business Protection When many business owners think about protecting their company the first thing that comes to mind is the premises, vehicles and stock but is this where business protection begins and ends, what about your most valuable asset? . Business protection takes three key forms; protecting profits, corporate debt and ensuring the shares of a deceased business owner can be purchased.

• Keyman Insurance also known as profit protection is essentially a life insurance or life insurance with critical illness policy written on the life of the individual but owned by the business. Any premiums due are paid by the business and thus should a claim arise the benefit payment is made to the employer.
• Shareholder Protection is designed to pay a benefit in the event of the shareholders death. The benefit payment provides the remaining shareholder(s) with a means of buying the deceased owner's share of the business from his or her estate.
• Loan Protection is designed to help the business pay any outstanding borrowings such as a loan or commercial mortgage should the individuals covered die (Life Insurance Only) or a specifice critical illness (Life Insurance and Critical Illness Cover).

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