Business Protection Insurance
Key person insurance - also known as
- Keyman insurance
- Director/shareholder protection
- Partnership protection
- Business loan protection
- Sole trader protection
Business Protection Insurance clearly provides an all important safety net for all types of businesses. It is all too common for businesses to view Business Protection Insurance as an optional extra. It would be a far safer way of trading to consider Business Protection Insurance as part of the business plan from the first day of trading. Businesses all over the UK cease trading for all sorts of reasons - many of which could have been prevented had they had some form of Business Protection Insurance in place.
So why is Business Protection Insurance necessary?
Business Protection Insurance ensures that you, your co-workers and the business itself are insured for the unexpected. When Business Protection Insurance is in place and you experience the unexpected you can:
- Keep the business trading
- Replace key individuals
- Protect corporate debt
- Buy out a shareholder if they become critically ill or buy their share from their estate if they were to die.