Protecting your business assets

Any organisation’s most important assets are its employees. The specialist skills and knowledge-base of key people is often gained over considerable time and specific investment in training, apprenticeships, promotion, skills and, of course, natural aptitude.

What then would happen to your business in the event of the untimely death or disability of a key employee, manager, director or co-owner?

Key Employee Insurance

Key Employee Insurance is a life insurance plan that pays out on death or on a prolonged illness of a key employee. A key employee can be anyone from a Director to an ‘ordinary’ employee as long as the company can show that their loss from death or disability will cause the company to suffer in turnover and profit or cease trading without these key people.

Key Employee Insurance creates peace of mind for businesses of all sizes. If a director or employee of a business plays a unique role, that can’t easily be replaced, has special skills,  or if they play a key part in the running of your business, you should consider this insurance. There have sadly been many cases where a key employee of a business has died or been left unable to work, which has had a catastrophic impact on the overall business – sometimes causing it too close. Avoid the risk with this insurance policy.


Shareholder Insurance

The crushing impact of a critical illness or even the death of a partner or shareholder is all too easily overlooked. Problems arising from such an event can range from suffering a loss of profit to having to close the business down.

There are several scenarios where shareholder protection becomes vital and it is imperative that you are adequately protected from whatever life has to throw at you.


Double Option Agreements

Double Option Agreements are where a partnership or a number of shareholders draw up an agreement for the following:

  • On the death of a partner/shareholder, the remaining parties have an option to buy the deceased’s share of the business. This has to be achieved within a specific timescale.
  • The deceased’s estate has a duty not to sell the share to anybody else. There is also an option that the remaining shares are purchased by the remaining partner(s)/shareholders.
  • A life insurance plan on an ‘own-life’ basis is written in trust for the respective parties involved by all partners/shareholders. This then guarantees that the capital value of the entity is fully protected in the event of any partner/shareholder’s demise.

Group Medical Insurance

In most countries in the world this is almost essential to supply or enable access to for your employees. It will also help your company gain a competitive edge.


Group Life Insurance

Commonly referred to as ‘death-in-service’, group life policies, or group life insurance provide a fundamental foundation to a company’s employee benefit scheme, one that employees are increasingly seeking as they move into and through their careers. Such schemes will not only provide what was once referred to as a ‘perk’, they will also allow you to begin nurturing staff loyalty.

A group life insurance policy is usually calculated on a multiple of an individual’s salary and paid out as a fixed lump sum if needed. A further option could be tailored to pay out a spouse’s and orphans’ pension to those employees with a dependent family.


Group Pension Schemes

Another way to attract, reward and retain staff is by way of contributing a sum equal to a percentage of their salary into a pension scheme (or adding a bonus to their fund), along with required or optional contributions from the staff member.

Work place pension schemes are becoming more and more popular and have recently become the norm in the UK.


Gratuity Management 

This is an area to talk about pensions


Foreign Exchange

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