How much is a key employee worth to a business? And how would, or could, that business cope without them?
Most businesses today make sure their assets are covered against the effects of fire, theft or any unforeseen event. What about key employees - should it not be second nature for your clients to protect these assets as well? Many businesses often cite people as their most valuable asset although they do not consider their financial value.
Business Protection helps a business recover should an owner or key employee suffer a critical illness or die. It can help to make things right when things go wrong. It is often perceived as complicated - but the basic principles are similar to arranging personal protection. Business owners are no different to personal clients - they simply have business needs. We are experts at protecting businesses and we are here to help every step of the way.
We offer four types of cover:
• Key person protection that can provide a financial safety net in the event of a key person suffering a critical illness or dying;
• Shareholder and partnership protection which can provide a sum of money on death or critical illness to remaining business owners so they can buy shares from the leaving partner, member, shareholder or the estate
• Loan protection that can provide a sum of money to ensure the repayment of a business loan in the event of the death or critical illness of a partner, member or shareholder.
We now also offer Relevant Life Policies. These are an alternative way for an employer to set up life cover for an employee in a tax efficient manner to benefit the employee's dependents. They are set up on a single life basis and are suitable for small businesses that might not normally be able to access this type of death in service cover through a registered group life scheme.
We want to make it as simple as possible for you to break into this market. To help you advise your clients, we have designed a brand new toolkit that gives you everything you need at your fingertips. From animated video guides, easy to understand sales aids, calculators and fact-finding templates as well as instant client approach emails, you will find all the tools you need to plan, present and deliver competitive business protection solutions to your clients.
Every business could benefit from business protection. Starting with yours.
You can visit our toolkit at www.scottishprovident.co.uk/businessprotection
