Business Cover Life Insurance for when you are building up your business.
It is important to realise that your hard work alone won’t keep the company running. Having security measures in place helps cover the various risks that you’re exposed to.
Assured Life Advisers advises on the full range of business cover life insurance policies that can help assure you that you, your employees and your company will be in safe hands if you experience a problem.
Business Loan Protection – If you have taken out a business loan, the health of your business depends on keeping up with the repayments.
However, what would happen if a key person who guarantees the payments dies? It’s more preferable to take out insurance on a loan than deal with the consequences of defaulting.
Relevant Life insurance – is a way of providing life assurance to employees in your organisation. This works along the lines of a death-in-service benefit, where the employees loved ones are given a tax-free lump sum in the event of death or terminal illness during their employment.
This will provide the family with some financial security and is an alternative to other life insurance policies for businesses.
Key Person Insurance – If the most important member of your team suddenly stopped working, what would the effect on your business be?
Our key person protection policies pay out a lump sum if one of your key employees dies, or is unable to work through severe health problems.
A policy is arranged to provide funds to help support your business in the event of a successful claim. For example, if you were to cover a key Account Manager, these funds could cover loss of revenue from sales, or to help make any necessary adaptations to the workplace to accommodate the needs of an employee with a disability. Funds could also be used to meet the costs of recruiting a replacement employee, including recruitment fees as well as a sufficient salary needed to attract, recruit and retain a suitably-qualified replacement employee.
Shareholder, Partnership and Ownership Protection – When a business owner passes away or suffers a severe illness, this policy helps protect the surviving owners by making the funds available to purchase the deceased’s share of the business from their estate; ultimately ensuring that they retain control of their business and the deceased’s estate gets a fair value for their share.
It gives you the ability to buy shares, retain ownership and continue to grow the business, as well as protect the shares that would otherwise pass to the family.
This policy is essential to the future of the business.
Group Private Medical Insurance – Private medical insurance is now common for employee packages. This makes each individual working for you feel looked after and motivated.
When employees feel valued, retention levels are high. Private health insurance also makes sure that your employees receive speedy treatment if they suffer ill health.