Business Protection Strategies
Business Protection Strategies can protect business owners in the event of the death, or disability of a key person or business partner.
Key Men Insurance
This type of policy can protect a business owner against the risk of ‘key’ staff members either passing away or suffering a critical illness, such as cancer for example. It is worth considering what the consequences would be if a director or employee with specialist skills died or became seriously ill? This can often have a large impact on a business in terms of lost revenue and staff replacement costs.
This is a specific kind of life insurance that can provide compensation to a business partnership. If one of the partners dies a lump sum will be released, allowing the deceased person's share of the partnership to be bought from their next-of-kin.