Business Insurance

Whether you are a sole trader or in a partnership with one or more partners, business insurance is a necessity if the business is to continue running effectively in the event of the death or disability of one or more partners. Consulting an accredited advisor will help you to establish the value of a business or keyman in the business as well as helping you to seperate your business assets from personal assets for estate and tax planning purposes.

Keyman Cover

Keyman cover can literally save your business. If you are heavily reliant upon a keyman in your company, their loss could be devastating.

Keyman cover will provide your business with a cash lump sum which will help you recruit a new specialist and supplement income whilst waiting to fill the vacant position.

Partnership Cover

Also known as buy and sell cover, this is essential for any business with two or more partners who all have a share in the business.

In the event of the death or disability of one partner, the insurance cover on their life which is owned by the other partners will pay out, thereby enabling the remaining partners to continue in business without the deceased or disabled partner.

Contingent Liability

It is not uncommon for a business owner to sign personal surety for business loans in order to purchase capital equipment. Should the owner die or become disabled, the banks may decide to call in the loan regardless if the business continues to trade.

A contingent liability policy owned by the business on the life of the owner will payout to the business in the event of a claim thereby enabling to settle the debt in full.

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