Who is this box set for?
Business owners & directors who may have a need for key person, shareholder of partnership protection. Professional connections, including lawyers and accountants, who can open doors to these advice opportunities.
About this box set
Business Protection insurance is something all businesses should be aware of and consider. We produced this box set to make it easier for advisers to communicate the risks businesses face and the solutions they can offer.
This box set helps company owners and partners understand the risk to their business in circumstances where the owners or key employees are unable to work due to a critical illness or death. The box set looks at key person protection and shareholder/partnership protection and how good financial planning and insurance can make a big difference to a firm at a time of need.
The risk to businesses of key employees or owners being diagnosed with a critical illness or dying can be severe - sometimes threatening the survival of the business itself. In just 10 minutes this box set brings to life the challenge and the solution.
1. An introduction to Business Protection - 3 min
An introduction to Business Protection insurance and how a critical illness or death of a key employee or business owner can have a huge and detrimental impact on a business. Covers how this risk is often missed and how, through business protection, it can be relatively straightforward to address. Viewers are encouraged to think about the people who are the driving forces in their firm’s success and why insuring them can make very good business sense.
2. Insuring key individuals - 3 min
Insuring the key individuals responsible for your businesses success in the event of them becoming seriously ill or dying. How to identify who is key in your business by thinking about the financial impact of someone no longer being available and the cost of replacing them. The video also discusses the process of getting cover in place.
3. Shareholder/Partnership protection - 3 min
Shareholder/Partnership protection and how an agreement, backed by insurance, can help keep a business on track after the death or serious illness of an owner. This chapter covers the potential benefits to a deceased’s family and how an agreement can stop a person with no knowledge or interest in a business suddenly getting a say in how it is run. The video also covers the parties involved and process of setting up an agreement and arranging the appropriate insurance.