Business Protect specialises in providing a range of personal protection services for business people.
Business Protect was established by Martin Byrne – a highly-experienced professional in the financial services industry – after he saw how little generalist practitioners knew about the niche products that exist in the business protection sector.
Business Protect’s knowledge base is rooted in Share Protection Insurance, Key Person Insurance, Relevant Life Insurance, Executive Income Replacement Plans, Group Death in Service, Group Critical Illness and Group Income Protection. As most business owners have families, they also look after their clients’ personal needs as they often overlap.
Protecting your assets
Having a Business Protection Strategy is fundamental to good governance for any business. It ensures that your company’s growth strategy isn’t compromised and the value you are building into the business is protected.
Why business protection is vital
When you are building a business, having a robust business protection strategy is vital to ensure that any unexpected events which may have a negative financial impact on the business are mitigated. It also demonstrates good governance when you look to exit the business. Showing you have covered off risk gives buyers or investors’ confidence.
Working with our Service Partners – Business Protect – business protection is a fundamental part of the International Britain offering, especially as you grow internationally. Key members of your team need to be protected just as though they were a cash generating machine in the office or factory. You can’t afford it to break down – either temporarily or permanently. Cash flow is the lifeblood of a business.
Business protection is a way of helping to protect your company against possible financial losses in the event of the absence, death or critical illness of a business owner or key individual. Its purpose is to mitigate the risk and financial impact of the loss of any of the key people in a business whether temporary or permanent. It can help ensure your business survives and continues trading during difficult circumstances.
The benefits
Share Protection: Shareholder agreements and partnership agreements are all very well, but unfunded agreements are only useful if the company retains any cash to be able to buy the shares of a retiring, critically ill shareholder, or a deceased shareholders’ estate. Share protection policies allow you to be your own banker and retain full control of your company with certainty of the outcome should disaster strike.
Key Person: Any key employee whose absence would have a negative effect on cashflow, and profit will need to be replaced either temporarily or permanently depending on the situation. This can include retirement, relocation, salary and package, and returning to the same level of contribution to profit costs. Having a subs bench is critical to being able to win the game.
Loan Protection: Many finance deals include directors signing personal guarantees. This means if for any reason the business can’t fund the loan, those liable will have to settle it from their personal estate. Directors’ loans and pension arrangements are also immediately payable to the estate of a deceased director. Having protection in place ensures you never have to worry about company debts falling back on your family.
Staff benefits: Death in Service, Group Income Protection and Group Critical Illness are a way of attracting and retaining quality staff. If people are looking to move to, or away from, your company the benefits package will. Always be a consideration. Don’t let the competition entice your prize assets away, build loyalty and a positive culture, it makes good business sense.
Why Choose Business Protect
Service is everything, and at Business Protect they have the systems and processes in place to make sure that they provide excellent service to all their clients. They work hard to deliver where it counts the most to the UK business owner – the bottom line.
Business Protect is a highly-skilled team with many years’ experience who can help you develop and implement your protection strategy.
Business Protect Limited is an Appointed Representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority: FCA Number 460421.