Business insurance, or key person insurance, can help keep your business progressing if you lose an important team member due to serious illness or premature death.
If you are a business owner, protecting yourself and your family also includes protecting your business. Business insurance can help keep your business going if a key person is lost to illness or death.
When it comes to protecting yourself, your home and your family if you’re a business owner, keeping your business trading is a huge priority. Business insurance, or key person insurance, can help keep your business moving forward if you lose a key member of your team due to illness or premature death with a lump sum cash injection into your business.
The loss of a key person to your business can be a truly devastating situation, both personally and financially. In such a difficult time, business protection can ensure that your finances are taken care of. The lump sum received in the event of a key person insurance claim can help replace any falls in profit or loss of revenue, prevent you from having to borrow any money to keep the business going, and protect your own personal earnings. Whatever your business, we will be able to help you assess what level of business protection you might need should the worst happen.
We collectively have over 100 years of experience in arranging mortgages, so why not find out a little more about us and how we could help you protect your home and family.Find out more about your team
Business insurance is only one way to protect yourself financially. Our Protection Guide can provide more information on how to make sure you’re suitably protected.Read our Protection Guide
If you’d like to invest in business insurance, find out more information, or if you’re just considering your options for the future, please get in touch today. Our services are always free.Get in touch
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Business protection is an important way to protect yourself as a business owner. Should you lose a key person to illness or death, from directors to technical experts, it is vital that your business can continue trading even in such a turbulent time. We want to help you ensure that your business can keep progressing, that you and your employees maintain financial stability, and all of your staff and customers continue to have confidence in you.
The lump sum provided in the event of a key person insurance claim is about more than just protecting your business. It can help ensure that your personal earnings aren’t affected by any decline in profit or revenue, relieving any personal financial worries you might have outside of the business. This could allow you to continue making personal mortgage payments, bill payments, or any other credit commitments that you might have. Business insurance is the easiest way to ease your business and personal financial concerns in an already stressful time, and allow you to continue to restore and progress your business in the time that you need.
Business Insurance Help!
Do you have questions about business insurance? You might find the answer here or in our Protection Guide. If you have further queries, however, please call us for free.
If I have a mortgage, should I have business insurance?
If you’re a business owner, business insurance isn’t compulsory for a mortgage, but you need to consider just how your family will be able to make mortgage payments should you lose a key person in your business to serious illness or death.
If your family can’t make the mortgage repayments, your mortgage lender may repossess your home. At an already emotional and difficult time, this could be devastating for your loved ones.
Can I get business insurance if I don’t have a mortgage?
Yes! Your mortgage is just one of many things in your life that needs protecting. In the event of the serious illness or death or a key person in your business, the sum paid out by a business insurance policy can allow your business to continue trading, and protect your own personal income and finances.
You will always require buildings insurance as a condition of your mortgage lender, but the amount of contents or additional life cover you choose to invest in is completely your decision.
The amount of protection you invest in should depend on your budget and circumstances. For example, if you are a single person who rents a property, your insurance needs will differ greatly to a family with a mortgage. If you are unsure of the level of protection you need, or want to learn more about different types of protection, feel free to call us for free, or take a look at our Protection Guide.
When should my cover start?
It’s never a good idea to delay any form of protection. It’s always best to get your cover in place as quickly as possible as you never know what might happen in the future.
Some forms of life insurance and income protection might also take a little more time to put in place than insurance for your home or contents, so it’s best to prepare sooner rather than later.
How do I apply for business insurance?
We believe all aspects of mortgages and protection should be as stress and hassle free as possible. We will help you find the right cover for your circumstances and complete the application process for you. Our services are also always free, so we will never charge you for the help we provide.
What information do I need to apply for business insurance?
When applying for any level of protection insurance you will need certain documents and details available, including your medical history and existing policy information. For a list of required information, take a look at our Protection Guide. If you have any questions, please don’t hesitate to get in touch with one of our advisors for free.
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