Protection

Being part of a successful company means overcoming constant challenges. When things go well thanks to the skills and effort of you and your fellow directors, the rewards can be great. But if something goes wrong, for example if you, your co-directors/shareholders/key people die or become critically ill, the financial security of your company, your co-directors and the families involved can all be at stake.

Try and look at your own business when considering some of the points below & their impact:

Protecting your Business

Key Person Cover

• Who is the person responsible for bringing in the income?
• What impact would there be if that person(s) were not at work?
• How would your Bank react to the death of a Key Person?
• Would debts would need repaying or increase?
• How would your Suppliers feel?
• How would your Competitors react?

Sole Traders

You rely on your income and so does your family. Sickness cover, Life Cover & Critical Illness cover can protect you and your family.

Protecting your Business Investments and Income

• Partnership Protection – If you die or become critically ill, how will you or your estate get your share of the business? The partnership will cease!
• Director Share Purchase – If you die or become critically ill, how will you or your estate realise your value and/or shares in the business?
• Do you want someone else owning company shares? co-directors family or possibly a competitor?
• Capital and Loan Accounts – How will you release your value/investment back out of the business on death or illness?

Personal Guarantee’s

If you die or suffer illness, what affect will Personal Guarantee’s have on your family?
Will they sell assets or your home? The Banks will want their money back.