Business Protection

Business protection is a type of insurance that helps businesses protect themselves from financial losses that may occur when key employees or owners become ill or die. It can help businesses continue trading and recover quickly during difficult times.

In the modern day, any disruption to a business, regardless of how minor or major they are, can be costly. The loss or absence of a key employee could be detrimental to your business, so having the protection in place can minimise those risks, whilst also providing the business and the employee much needed finances in the process.

Oh and did I mention, the premiums would also be allowable as an expense providing the business with a potential reduction in their taxes!

There are various forms of business protection available, with some of the key ones being:

• Key Person Protection: This type of policy protects against loss of revenue if a key employee dies or can’t work due to suffering a critical illness.
• Ownership Protection: If the business has more than one owner, then this type of policy helps the other owners keep control of their business if a shareholder dies or is critically ill.