Business Protection
Plan for the financial impact of losing an owner or another important person. Discuss the cover your business may need for loans, ownership and continuity.
Opens WhatsApp with IM-Insured on +44 7367 195658. Start a no-obligation conversation about your cover.
What is Business Protection?
Business protection can help address financial commitments when an insured person dies or meets a covered illness definition. The policy must be chosen and arranged for the particular risk; a payout is not a guarantee that the business will continue trading.
Who is it for?
Business owners, partners and directors whose organisation has borrowing, ownership responsibilities or dependence on particular people.
Protect the commitment, not just the person
Business Protection is an umbrella for different arrangements. The right structure depends on what the business needs funds to do after a valid claim.
Ownership
Could surviving owners fund a transfer of shares or partnership interest under suitable legal agreements?
Borrowing
Which identified loans or guarantees would remain, and who is responsible for repayment?
Continuity
Would losing a key person create a separate operational or revenue gap?
These risks can overlap, but one policy arrangement should not be assumed to solve all three.
What to consider
An adviser can help distinguish the arrangements below. Life and specified critical illness benefits depend on the policy and the options selected.
Business loan protection
Cover intended to help repay an identified business loan following a valid claim.
Shareholder or partnership protection
Funding that may help remaining owners buy an affected owner’s interest, alongside suitable legal agreements.
Key person protection
Cover for the impact of losing a person whose skills, relationships or contribution matter to the business.
Employee life benefits
Relevant Life and Group Life serve a different purpose: providing benefits for employees’ loved ones.
Why consider this cover?
Borrowing and ownership obligations do not necessarily disappear after a death. Planning can help you identify a potential funding gap and coordinate insurance with business agreements.
Before you decide
- Check the debt or ownership interest that needs protecting.
- Review cover when loans, valuations or ownership change.
- Agree who owns the policy and who receives any benefit.
- Take legal and tax advice where trusts, share agreements or tax treatment are involved.
How IM-Insured can help
IM-Insured can discuss your protection objectives and the insurance options available. Your legal and tax advisers should be involved where the arrangement depends on company documents or tax treatment.
Continue on WhatsApp: +44 7367 195658. Your enquiry does not commit you to a policy.
