You’ve protected your company’s concrete assets – the property, computers, stock, vehicles of your business – but what about the employees? These are the people whose work dictates the performance of the company. The death or illness of one of your most valued employees can have a serious impact on your company’s success, so it is essential you have the right safeguards in place.
In every business there are key people who drive the business forwards. As much as any concrete assets, your business relies on these people for its success. Our advisors can guide you through the keyman insurance market. We’ll get to know your business and identify your major players, before helping you find a policy that fits your requirements.
What would happen if one of your shareholders died or was taken sick with a serious illness? You need to be certain of the answers to some important questions – how would you retain control of the business? How would you assess the fair value of the share? Measures need to be in place to make sure the remaining owners have the power to buy the share from the retiring owner or the deceased’s estate at a fair price. We can assist you in finding a shareholder protection and ownership plan to make sure you retain control of your business.
Group income protection (PHI)
Extended employee absences can be difficult for employer and employee alike. Taking out group income protection safeguards both parties against the financial strain of the situation. If one of your employees has a long-term absence, group income protection covers payment of the employee's salary until they return to work.