Safeguard Your Company With Business Protection | Covered Insurance

Uncertainty is a difficult subject but one that must be addressed if you are to guarantee the smooth-running nature and stability of your business.

Most business owners don’t think twice when it comes to taking out insurance cover to protect their buildings, contents, equipment or stock.

However, businesses often fail to protect their most important asset, their own staff. Some risks are uncontrollable and an unforeseen serious illness or even the death of a staff member can have a serious effect if the correct type of insurance is not in place.

It is therefore crucial that you implement the right types of business protection insurance to ensure that you, your staff and the future of your business are protected from risk.

The Benefits of Business Protection Assurance

Business protection is designed to safeguard companies from any financial losses that would be incurred if a key staff member or owner were to die or be diagnosed with a critical or terminal illness.

Having this type of insurance in place has numerous advantages:

  • It encourages businesses to identify their own risks and put solutions in place

  • It helps businesses successfully pay off any debts they may have

  • It protects profits

  • It enables replacements for key members of staff if circumstances require it

  • It provides a cost-effective method for helping businesses secure their futures

  • It protects the livelihoods of employees

Types of Business Protection

There are a number of different types of business protection available to help safeguard your business from unforeseen circumstances:

Key Person – Profit Protection

The business receives policy proceeds which can be used to help replace a key member of staff. This type of policy also assists in covering the loss of any profits which may occur as a result.

Key Person - Loan Protection

Funds are received by the business and used to pay off any outstanding loans that the company may have.

Included within this policy are any bank loans or director loan accounts which would be required to be paid following a staff member’s death.

Share - Ownership Protection

This policy involves the shares of a business and the business owner.

If the business owner is diagnosed with a critical illness or passes away, the policy funds can be used to help purchase their share of the business.

Protect Yourself

Don’t put yourself or your staff at risk by being an unprotected business. Look upon business protection as a key priority in the safe-running of your company and as the most effective way to safeguard you and your staff from unknown and uncontrollable factors. Click Contact Us Now or call 0845 862 2727