Business Protection

This is a specialist area and is generally broken down into 2 different policies;

• Key Man Assurance. There are many situations where the loss of a colleague can have severe implications on the financial health of an organisation i.e. loss of revenue or loss of skills. Adequate business protection will ensure peace of mind that the business is financially secure should a ‘key man’ be unable to work.

• Relevant Life Cover. This type of policy will provide a lump sum on the death of an employee, removing the need for companies to set up a costly registered group life scheme.

Relevant life policies are primarily aimed at 2 groups;

1. Small businesses that don’t have enough eligible employees to warrant a group life scheme, and
2. High earning employees that have substantial pension funds and don’t want their death in service benefit to form part of their lifetime allowance.