Did you know that according to the Office of National Statistics, 95.6% of small businesses, last year, within the UK were registered with fewer than 10 people in the office? What would you do if a key person(s), either the founder, owner or key employee within your business was unfortunately diagnosed with a critical illness or was involved in an accident?
The insurance market can feel like a minefield. Hundreds of lenders and thousands of policies – finding the one that is best for you can be an intimidating task. Nothing feels straightforward and there’s legal jargon you may not understand, so what checks should you do before you sign on the dotted line: (more…)
More than 80% of small businesses in the UK do not have Key Person Insurance. Not only does this service provide financial cover and security should an important employee fall ill, but it can act as a great incentive for investors if you are looking to grow the business. (more…)
Since 2011 the number of start-ups businesses launched in Britain has significantly increased year-on-year. Today alone there have been 2476 new businesses launched.
Whether you’re at the beginning of your entrepreneurial journey with your business already launched, or you are just thinking about starting your own business – key person insurance should be on your list of essential things to consider. (more…)
Key person insurance (also known as key man insurance), ensures that the business is financially protected from the loss or absence of the people/person who are so crucial that their extended absence would see a loss in profits (or even just a more general financial loss from recruitment and training of a replacement, customers losing confidence in the company or loss of contracts established by that key person). (more…)