Your business is your lifeline, it’s what gives you your lifestyle and standard of living. It must be protected from unexpected disruptions and allowed to continue with minimum impact on your team.
A business protection plan does just that. It allows a business to continue to function following the loss of one of their key employees or one of the business owners through death, critical illness or temporary disablement.
Business protection is available for partnerships (including limited liability partnerships), shareholders, sole traders and key employees. It can also be used to ensure repayment of a business loan in the event of death or critical illness of a partner, key person or sole trader.
There are a range of business protection options available as part of the planning service provided by Duke Godley. We’ll guide you through them to find the right one for your specific business needs.
A Relevant Life plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It's 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.
Keyman insurance gives a business protection if suddenly one of the key people within your business suddenly falls critically ill or has a disablement; perhaps someone like a managing director or partner; who is critical to the running and success of the business.
As the name suggests, shareholder protection offers protection from unforeseen circumstances with regards to the owner of the company. If, for example, a shareholder was to suddenly pass away, a shareholder protection policy would provide the funds for the remaining company owners to purchase the equity of the deceased shareholder, especially if the beneficiaries are not interested in the business or not qualified to continue in the role.
Group Life and Income Protection
Group life and income protection aims to provide an income to an employee when they are unable to work long term, as a result of an illness or injury. This sort of policy usually provides up to 80% of an employee's salary if they are unable to work due to illness or injury for a prolonged period (usually six months).
You probably know what you are doing when it comes to your finances. We get that.
But we also know that we are at the top of our game when it comes to the latest financial information, market trends and regulations. Moreover, with our years of experience in the field, we’ve learned how to find creative solutions to complex situations and we’ll tailor our approach to your unique circumstances.
Give us a call on 020 8515 1200 or email us if you’d like to discuss how we can help with your investment strategy, whether it’s for you personally or your business.