Summary Keyman insurance is one of the most overlooked insurances for business - but also one of the most important. This article looks at the risks it can cover for Directors, Shareholders, partners and employees alike.
Keyman Insurance - insures some of your biggest businesses risks. Click here for page 2
Author: Michael Challiner
Keyman Insurance to protect your Profits.
The effect of losing key staff goes well beyond simply the cost
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- Keyman Insurance. insures some of your biggest businesses risks.
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Keyman Insurance to protect Shareholders or Partners.
Here we are talking about insurance to protect interests in ( life insurance quotes ) the event of long-term illness or death. Families may want to sell their stake in the business but the remaining members in the business may not want those stakes held by newcomers. Keyman insurance schemes can be implemented which provide the necessary finance to buy the shares from the original shareholders or their estate.
Keyman Insurance insuring those who provide personal guarantees.
When a business takes out a loan or raises bank finance the lender is quite likely to require a personal guarantee or a charge on their personal property. This especially ( car insurance quotes ) applies to small and new businesses. So what happens if these guarantors become seriously ill or die? The lenders may well be in a position to call in the loan. What happens then? Again, Keyman Insurance is the answer. Insurance can be structured to pay-off the loan and thus free the business and the guarantor's family, from major worry.
Most of the UK's leading insurance companies offer Keyman Insurance as a development of their Life and Critical Illness Insurance interests. They have all the necessary ( mortgage quotes ) paperwork available to implement the cover you need and ensure the taxman is kept at bay.
So, can your business ( life insurance advisers ) afford to ignore Keyman Insurance? You'll be either a brave or foolish man to say NO!