Our specialists can help you develop a strategy to put the right plans in place to give you the peace of mind if the worst happens, protecting your business, your people and your livelihood.
Why do you need business protection insurance?
Smart businesses now recognise that it makes sense to have a strategy in place to minimize the loss of your key people – the very people you rely on to ensure the success of your business. You should also make sure that your business remains in the right hands in the event of the death or serious illness of a business owner or key employee.
What really produces the profits in your business: machines or people?
Our specialists can talk you through the details of:
Developing a business will
Life assurance / relevant life policy
Shareholder / partnership insurance
Key person insurance
Regardless of it being a serious business issue, a policy claim, or just general advice that’s needed, [Partners&] have always delivered. Clarenco are delighted with their commitment and support. I would have no hesitation in recommending them for commercial business, friends and family.
We first appointed [Partners&] in 2010 to benchmark our insurances against our multinational broker. The savings made were such that it was decided to move the company’s business across [to Partners&] that year. Since then, our relationship has grown, and we have been assisted in the settlement of a complex claim made against the company to the full satisfaction of the board of directors. We have been impressed with their personal service and we would have no hesitation in recommending them.
We’re here to help you ask the right questions, so that together, we can work on the best outcomes for you, your business and your people.
A key employee can be an owner, a top-producing salesperson, a manager or another person whose contributions are critical to the success and survival of your business. When a key employee dies, it can create a crisis, along with numerous questions. Call us to talk through what these and what the right cover could look like.
The amount of money required will be different and very much informed by your business and unique services, however as a business owner you can purchase a life insurance contract on them. Upon the key employee’s death, the business receives the death benefit. This is intended to help maintain the company’s stability during the time it takes to replace the key employee.
In the event the company has several directors and one of them passes away, the company can still operate. In most cases the surviving directors can simply split and share the responsibilities and debt of the deceased. If the director was also a shareholder of the company, it is important to seek specialist advice on what happens to the deceased’s shareholding as their Will may stipulate what will happen.