Keyman Protection
Keyman Business & Partnership Protection
How Keyman Protection effects your business
If you are an employer, how prepared are you for the time when a key employee is unable to work for a protracted period due to ill health or even death? No one else can protect your business from the disruption, lost orders, unfulfilled production schedules caused by the loss of a key employee. If you want to protect your business against:
- lost orders;
- idle production lines;
- negative cash flows; you should look at Keyman insurance
Keyman insurance compensates a business for the financial loss brought about by death or critical illness of a key employee, such as a company director. It provides a valuable cash injection to the business to aid a potential loss of turnover and to provide funds to replace the key person.
Share or partnership protection provides an agreement between shareholding directors or partners in a business, supported by life assurance. It ensures that the control ofthe business is retained by the remaining partners or directors, but the value of the deceased's interest in the business is passed to their chosen beneficiaries in the most tax efficient manner possible.
The above are essential areas for partnerships or directors of private limited companies to explore. We help you to determine the level of cover you need, any necessary trust arrangements and can provide sample agreements for you to use.
Many people prefer to instruct a solicitor to advise on the agreement and / or any Trust arrangements, especially in more complex cases. We are more than happy to work with your existing solicitor for the establishment of the agreement and Trust arrangements.
It is vital that any such Keyman protection is reviewed at least annually to ensure that the cover is, and remains, pertinent to the growth and long term objectives of the company.
Plan for tomorrow, Call us today
Your property may be repossessed if you do not keep up repayments on your mortgage.
For mortgages you can choose how we are paid: pay a fee, usually (0.50%) of the loan amount, or we can accept commission from the lender.
An Appointed Representative of Sesame Ltd which is regulated by the Financial Services Authority
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