Business Protection

Relevant Life Cover

This type of cover is paid for by the business to protect the families of company director or key individuals by giving them a lump sum upon the employee’s death in service. The policy can be taken with the employee upon leaving and turned into a personal policy.

Key Person Insurance

Key Person Insurance won’t do the job of your vital staff member, should they fall sick or die, but the money will help the business to buy in consultancy cover or offset a loss in profits at a difficult time for your company.

At the outset, we work out the impact on productivity – and therefore profit – should the relevant employee fall ill or die, and cover for that amount.

Shareholder Protection

If you have a shareholder agreement, it will include a clause that will give the business the money to buy out a shareholder in the event of their death or inability to work. It is a critical illness policy. Even if they are a silent partner, this clause should be in place.

Group Life Cover

This is a policy, paid for by the business, that gives all of its employees life cover. It is a great benefit for attracting and retaining staff. Again, it is very flexible: you can add remote GP access, remote physiotherapy, ‘Employee Assistance Programmes’ and so on. It can also be set up to reward different levels of responsibility.

Private Medical Insurance

With NHS waiting times forever increasing – and even GP appointments getting harder to arrange – Private Medical Insurance – tailored to your staff and their families’ profile and needs – makes an awful lot of sense.

This is a policy, paid for by the company, which benefits every employee. Again, it is a great benefit for attracting and retaining staff. Employees can add their families to the policy.

Many policies come with wellbeing services – talking therapies, earning points for activity, and even organising inter-business challenges.

Group Income Protection

Group Income Protection pays a percentage of a staff member’s salary if they are unable to work due to long-term injury or illness. The money is paid to the employer to pay on to the employee through payroll. Employers can choose both how long until the first payment is made, and how long the benefit is paid for. Group Income Protection gives your people peace of mind, knowing that they will receive a monthly income to cover their living costs whilst not working.

Group Income Protection can come with Employee Assistance Programmes.