When business gets personal...
Protection isn't just for individuals; businesses need protecting too. It isn’t just about an insurance ‘product’ either, instead it is about providing a full corporate financial plan.
Key person insurance
Have you considered what would happen if you lost key people in your business?
Most businesses will insure their premises, vehicles and office equipment but if something were to happen, premises could be rebuilt, and products could be replaced. Replacing a key person is not nearly as easy.
If you're a business owner, ask yourself these questions...
- Does your business rely heavily on one or two key individuals?
- What would happen if one of them died or suffered a serious illness?
- How would you retain control of the business?
- How much money would you need to keep the business going?
- Where would the money come from?
We can help you implement a wide range of options to help you protect your business from the unthinkable.
What if something happened to you or one of your shareholders?
This can be catastrophic, especially in family businesses where spouses or family members are reliant on income from the business.
Even if your major shareholders are not related, how would you feel if you knew you had no way of buying your business partner's shares, leaving his or her family in a potentially precarious position?
Even if personal life cover is in place, what would happen to those shares in your business? Do you have a written agreement as to what is to happen? If you can't afford to buy them where will they end up? How would you retain control of your business?
FMB can provide the answers to all those questions and help you and your shareholders plan for the worst.
Take the first step towards peace of mind - call us now on 01539 725855