Business Protection
BUSINESS SUPPORT
Business protection, sometimes called business life insurance, is like personal life insurance but tailored towards needs of a business or organisation.
Relevant Life Policies
Relevant life policies ensure the death of a shareholder does not stop the business operating by paying a lump sum to cover debts, fund contingency plans or buy shares from the deceased's estate, preventing shares passing to beneficiaries named in their will.
This is particularly important where there are multiple shareholders.
Key Man Insurance
Key man insurance protects the business against the death or serious illness of a key employee by paying a lump sum.
Examples include directors, research and development specialists or top salespeople.
A key man policy provides a cash injection for the business to cover lost revenue or hire another member of staff at short notice.
Group Life Cover
Group life cover and group sickness are great ways of providing staff benefits.
Employees are driven by more than remuneration, and free life insurance is a valuable addition to your company’s recruitment and retention offering, potentially increasing staff engagement and improving employee retention.
How can 20:20 help?
At 20:20 Financial Planning we conduct a top-down analysis of your business, helping you quantify the impact of a shareholder's death and identify the debts that might become payable.
We get to know the strategic goals of your business, so we can determine your key employees.
This is presented to you in a transparent report with clear recommendations. Our referral partners can help you with larger group life and group sickness schemes, including the onerous administration.
We understand every business is different, so our services are bespoke to your needs.
