Protecting your business

What to consider

Your input is integral to your business. Perhaps it is you who is the main revenue earner within the business. Perhaps you generate sales for the business. Or is it your organisational skills that keeps the profit rolling in.

Whatever the situation, if you are not available on Monday morning profits will slide, and the business will eventually collapse – is that what you want?

If the business has lending arranged in the form of loans or overdrafts will these be called in by the Bank? How will that affect trading?

Who are the other key persons within the business contributing to the generation of profit? What happens if they stop coming in to work?

All of these issues can be managed in a financially efficient way through the provision of suitable insurance.

Example – protecting your business

Tom runs a business, and his input is key to maintaining profit within his business. Having just taken business loan, Tom is conscious that if he has a serious health problem, his whole business could collapse

He therefore insures himself against critical illness to the tune of £200,000

Premiums on this cover cost the business just £52 per month

To find out how to best protect your business call us now on 020 8979 9684

Our example is based on non-smoker rates. Smokers* should expect to pay more for the cover is their risk of death or illness is considerably higher increasing the risk for the insurer. Under gender equality laws brought in by the EU, male and female rates for life and sickness insurance are the same. *Insurers are very careful when considering applications from ‘ex-smokers’ and will require a ‘cotinine’ test which can establish if there is any nicotine in the system of the applicant indicating recent smoking.