Running a business can often present you with unpredictable situations. A business protection policy will help to recover any loss of profit due to death or illness. All businesses, no matter what size or scale should have the right level of protection in place to cover all eventualities.
A keyman cover insurance is taken out on behalf of a private company or organisation and is designed to protect your business against the financial loss of an important or ‘key’ person in your team.
The lump sum generated is paid to the company to help cover the costs of replacing such an individual or to cover the loss of profit due to their absence.
This is especially important for businesses of any size and scale; as the departure, dismissal or even death of a key person can be disastrous.
A Relevant Life Plan is a term assurance available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the person covered dies whilst employed during the term. A Relevant Life Plan is paid for by the employer.
Company directors can offset any premiums paid against the profit of the business for tax purposes.
Speak to Us
To discuss any aspect of protection for your business call Springtide Capital today on 0203 040 4400 or arrange a callback from one of our experts.