Key person insurance
Helps with lost income and extra costs if an important person dies or is taken sick for the long term.
More infoBusiness protection insurance
Cover your business against losing your key people
First, we understand your business. Then we search the market.
Chances are, your business plans – and your financial goals – depend on a few key people. So it’s worth asking: what would you do if they suddenly couldn’t work?
Business protection insurance protects you if a key person is injured, taken ill, or worse. It can give you breathing space, ensure your debts are paid, and put you back in control. In short, it keeps your ambitions on track.
Whether you need key person, shareholder protection, or business loan cover, the important thing is to understand who’s most essential to your plans, before getting the best policies for your individual needs.
Your business advisor or financial planner will build a clear picture of your priorities. Then we’ll use our experience and understanding to search the entire market, until we find the perfect fit.
Find the right cover for the right people
Losing a key person unexpectedly doesn’t just mean losing their skills and time. It can also compromise your ability to:
Understanding the true cost to your business can be tricky – and that’s where an experienced advisor can help you get the right cover without overpaying.
Protect your plans from every angle
Between them, the three main kinds of business protection insurance can cover you in different scenarios:
The right cover, from the right advisor
“Our financial planner has not only proven to have cared well for our funds and plans but they are also very personable and approachable and as a result we feel extremely confident our best interests are at the fore at all times.”
Jess and Ian Amor
Why do you need business protection insurance?
Apply these questions to your business to help you understand if you need business protection insurance:
- What would happen to your business if you lost a key worker to critical illness or death?
- How could the business continue without a key person whose reputation, personality or vision is critical to its success?
- Would the business lose existing contracts, good will or contacts?
- What would be the vulnerability to competitors?
- Would it be possible to raise finance for new ventures or expansion without them?
- Could existing loans be repaid?
- Who would have control and more importantly, who should have control
- What will the impact of lost skills be? On profits? On creditors? On future prospects?
- When was the last time any existing business protection policies were reviewed?
Our approach to business protection insurance
Your business may not have the knowledge or time to work through a thorough planning process independently. That’s where we can help, advising you on any gaps in your businesses financial plans.
Each business is unique so we work with you to understand your business, what you stand for, your employee demographic and values.
We’ll review any existing arrangements and formulate an adaptable strategic plan. This is our three-step planning process:
1. Your goals – we’ll explore the drivers for the decisions you make to understand how we value to your finances, employee benefits and processes
2. Strategic planning – you’ll receive a strategic report which recommends bespoke solutions for your business
3. Regular reviews – your plan is a living document, owned by your business so we’ll review it together regularly to ensure that your plans are kept on track.
You’ll be advised by a qualified financial planner who is supported by a client liaison assistant, so there is always someone for you to talk to. We can also call on expert accounting and tax colleagues at PKF Francis Clark, ensuring holistic financial advice for your business.
Your plans are important; let’s keep them on track
Get in touch to arrange a practical conversation about your business and financial plans, and how we can best protect them.