Business Protection Insurance Kildare
Business assurance cover allows you to put monetary arrangements in place to help protect your business financially following the death of you or one of your business partners, Directors or a key employee
Business Protection Insurance Advice in Kildare, Ireland
While it’s important to protect your Family, it is also important to protect your Business.
Have you thought about
How will the business survive in the event of your death
What will happen to your shareholding?
What does this mean to your family?
Business assurance cover allows you to put monetary arrangements in place to help protect your business financially following the death of you or one of your business partners, Directors, or a key employee.
Key Person Insurance
Key person cover provides protection against the loss of an extremely valued employee of high financial and strategic importance to a business.
You will pay a regular premium and in the event of death the policy will pay out a lump sum
This lump sum can help with any bank loans which may have involved the key person
The sudden loss of a director through death, or ill health can potentially have very negative consequences on a business. If the deceased director was a majority stakeholder, the remaining directors may lose control of the company if next-of-kin were to take over.
Co-director Insurance will allow the company to buy a director’s shares from their next-of-kin if these unfortunate events occur.
This will bring stability to the business, as the remaining directors gain full control of the company.
It could be a good option for the family of the deceased, who may not have the desire or expertise to take on this role.
The death of a partner can be an extremely distressing and traumatic experience for those involved. Many business partnerships are based on years of collaboration, mutual support, and friendship.
As well as that, this unfortunate event might jeopardize the financial security and stability of the partnership.
The remaining partners may be obliged to pay a capital sum to compensate the deceased estate for his/her stake in the partnership.
Partners have the security of knowing they can retain control of their affairs if the unexpected happened and a partner dies.
Partnership Insurance can release the funds to make this possible, and allow the partnership to continue without the involvement of next of kin.
Increasingly, employers are including protection as part of a total remuneration package, to attract and retain key employees.
It gives Key Employees peace of mind knowing that there is security with their job in the event that the unexpected happens.
Gwen Clarke Financial Services Ltd’s team of experts offers a wide range of services, including investments, pensions, corporate pensions, mortgages, and life protection. We understand that each of our clients has unique financial needs, which is why we tailor our services to meet your specific requirements. Our goal is to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in your Guaranteed Whole of Life Protection options & application in Kildare, Ireland and in securing your financial future!
Frequently Asked Questions FAQs about Business Protection Insurance
Would you Recommend in taking out business protection?
I would always recommend that it should be something that you consider, you and your business partner do not know what the future may hold for either of you and knowing that the business is protected will give you peace of mind.
Don’t forget the business is paying for this not you personally.
What is the cost of taking out Business protection?
There are several factors which must be taken into account to determine the cost
- The Involvement of each person in the business
- How the Business operates
- How long you want the policy to be in place for
- The age of each person involved in the business
- The amount of cover you want in place
- Smoker status of each person involved in the business
You can get in touch with us and we can run a quote and see what your options are.
If a key person dies does the benefit pay out to the key person’s family?
Generally No. The policy is being paid by the business so it will pay out to the business.
Depending on the type of business protection that is taken out there could be a small amount paid to the key person’s family.
How do I Know which Business protection I should put in place?
It depends on what type of insurance you are looking for.
Does your Business have several Directors?
Is there only 1 Director and several key people in making decisions about the business?
Or do you only have a partner in the business?
Every circumstance will be different I can help you establish which protection would be best suited to your company and we can compare what each provider offers.