Business Protection Insurance
Business protection insurance is crucial for safeguarding a company's financial stability when faced with the illness or death of its owners or key employees. It supports business owners in ensuring their company survives challenging times. While many business owners recognise the importance of protecting their premises and equipment, they often overlook their most valuable asset – their staff. The loss of a key employee or co-owner can severely impact a business, both financially and in terms of lost expertise. Business protection insurance ensures the long-term financial health of a business during difficult circumstances.
Types of Business Protection Insurance
There are several types of business protection insurance available, each tailored to different needs:
Key Person Cover
Key person cover protects businesses if an employee who significantly contributes to their success becomes terminally or critically ill, or dies. This type of cover provides financial support to help the business continue operating smoothly during the absence of a vital team member.
Partnership Protection
Partnership protection provides partners with the cash flow necessary to buy back the ownership stake of a partner or member of a limited liability partnership who has died or taken ill. This ensures that the business can continue without disruption and that the surviving partners can maintain control.
Shareholer Protection
Shareholder protection allows for a planned succession of a shareholder or partner's business stake should they fall ill or die. It includes options such as required buybacks, ensuring that the business remains stable and that ownership transitions smoothly without financial strain.
Business Loan Protection
Business loan protection gives co-owners cover for any business loan payments that may be at risk in the event of death or illness. This type of insurance ensures that outstanding loans do not jeopardise the business's financial health during difficult times.
Enquire today:
For more details on our services, visit our Protection page. We're here to take the FAFF out of finance and help you secure your business's future.
Phone: 07785 954074
Address: 2 Kingsbroom Court, Kingswood, Maidstone, England, ME17 3ST
Email: kbl@financefactors.co.uk
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOANS SECURED AGAINST IT.
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Finance Factors is a Trading style of Finance Factors LTD who are an Appointed Representative of Advice Solutions LTD which are Authorised and Regulated by the Financial Conduct Authority. The Financial Service Register Number is 961681.
The Financial Conduct Authority does not regulate some forms of Buy to Lets.
There may be a fee for mortgage advice. The precise amount will depend on your circumstances, but will be agreed with you before proceeding.
Finance Factors is a Limited Company. Registered Address: Finance Factors Ltd, 2 Kingsbroom Court, Kingswood, Maidstone, England, ME17 3ST, United Kingdom. Registered in England and Wales under number 15814885.
We always aim to provide a high-quality service to our customers. However, if you encounter any problems, in the first instance please write to the registered address above, email or call Finance Factors outlining your complaint, if we are unable to resolve this, you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service (www.http://www.financial-ombudsman.org.uk/consumer/complaints.htm).
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Some calls maybe recorded for training and monitoring purposes.