Business Protection Insurance clearly provides an all-important safety net for all types of businesses. It is all too common for Businesses to view Business Protection Insurance as an option extra. It would be a far safer way of trading to consider Business Protection Insurance as part of the business plan from the first day of trading. Businesses all over Ireland cease trading for all sorts of reasons but many of which could be prevented had they had some form of Business Protection Insurance in place.
As a Self-Employed Director, it is important to ensure that you have the correct Business Life and Specified Illness cover in place. There are a number of Options to choose from and the one that suits you will very much depend on your own business circumstances.
We can arrange the following cover:
A Keyperson is an employee or director on whose expertise, knowledge, management expertise and contacts are key to the continued financial success of the company. Keyperson Insurance assists the survival of the company on death or diagnosis of a serious illness of a ‘key’ employee or shareholder by compensating that company for any anticipated financial loss in the event of either of these events.
The purpose of Keyperson Insurance is not to improve the financial situation of the company and increase its value. It is meant to indemnify against loss of profits and repay loans on the death of a key individual.
Corporate Co-director Insurance?
The directors of a company are often the major shareholders and key decision-makers within a firm. A successful business depends on the co-operation and experience of its directors. If one of these directors becomes seriously ill or dies it can create great difficulty for surviving directors and the deceased’s successor(s) alike. Corporate Co-Director Insurance gives the company the security that there will be funds available to buy back shares should this happen. If this unfortunate event occurs, a lump sum will be released, allowing the deceased person’s shares to be bought from their next-of-kin, in the company’s name.
This is a specific kind of life insurance that can provide compensation to a business partnership. If one of the partners dies a lump sum will be released, allowing the deceased person’s share of the partnership to be bought from their next-of-kin.
Our advisors are on hand to talk you through your options and to help you choose the right plans for your business
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