If one of your key staff members were to unfortunately pass away or to be off ill with a serious illness would you be able to run the business without them until you can find someone who will take their place?
Key Person Protection is a protection against your staff members lives, so if this member was to contract a critical illness or actually die, then the insurer will issue a sum to cover any loss of income due to this and aid in the search of a new replacement staff member before the workloads get too behind.
Business Loan Protection is another business protection insurance in which will pay out if one or more key members of an organisation were to contract serious illness or upon death. The BLP will pay out upon this unfortunate event to pay off any loans, mortgages or outstanding overdrafts the business may have which will be one less financial worry of the other business personnel.
Share Protection is a business protection for shareholders; businesses, which house multiple shareholders, are at risk without this policy. If a shareholder was to unfortunately die, the share will need to be bought out, without a policy most others will not be able to afford this, which could pose potential financial threats to the business. In the event of a death of a shareholder the insurer could provide a lump sum to assist the other shareholder to purchase the deceased share, allowing for normality of the business to continue.