I know about Key Person cover, but what other areas should I consider for my business protection needs?

There are an important number of areas where business protection insurance can mitigate real financial risks within a business such as a couple of examples below:

1. Shareholder or Partnership Agreements - the death clause sets out how the business share is to be treated following the death of a shareholder or partner.
   
   However, what cash is available in the business to fund this? By utilising an appropriately set up insurance policy, the funds can be provided on a timely and tax efficient basis to maintain control of the business for the surviving owners whilst allowing fair value to be provided to the deceased's estate.



2. New Debt - when debt is utilised to purchase a company or fund growth, it is sensible to implement life insurance on the main individual(s) who deliver the returns. If a death occurs, the business can have a better chance of survival without the debt burden.

We believe our chartered accountancy background along with our business protection specialism places us in a unique position to offer pertinent advice on how the use of life insurance can be used to provide potentially invaluable protection against financial loss for the business.

Call us on 02838 338 000 or email info@bpsuk.co.uk to get in contact with one of our experienced business protection specialists.