Key Person Protection
In the event of the loss of a key person, the insurance is designed to pay cover benefits directly to the business. The business can then use the benefits to fulfil their financial needs whilst recruiting a replacement or undergoing reorganisation.
Shareholder/Partnership Protection
In the event of the loss of a Shareholder/Partner, the plan will provide the surviving shareholders with funds to purchase the available shares. This allows the business to continue without further disruption, as well as providing the money to allow the spouse of the deceased to cease their connection with a business that he/she does not wish to remain involved with.
Business Loan Protection
In the event of the loss of a Key Person or named guarantor, the plan will provide the business with funds to repay any borrowings. This will help protect the business’ existing loans and it’s ability to secure new borrowings in the future.
Executive Income Protection
If Executives are unable to work due to illness or injury, the policy is designed to pay benefits to help protect them against a loss of income. Executive Income Protection is more comprehensive than individual income protection in that it can provide replacement for a wider scope of income including valuable pension contributions .