SWLaw Investment & Financial Planning can offer the specialist financial advice businesses need for the specific risks and challenges they face. We can also help owners to plan to maximise the return on the business and plan for succession.
Key Person Protection
Small and medium-sized businesses are typically dependent on one or two key individuals. Have you thought about how your business would cope should a key employee suffer a long–term illness or become unable to fulfil their role?
The business can protect itself by taking out life insurance on the life of the key person; additional risks, such as critical illness, can also be covered.
Shareholder And Partnership Protection
In the event of long-term illness or death of one of the business owners, it is likely that the remaining owners would like to buy out their interest and continue trading. An insurance policy can provide the funds needed to back up arrangements in a partnership or shareholder agreement. The policy may be set up to provide death benefits only (life assurance) or to provide befits on diagnosis of a critical illness.