Protecting your business and your people 

Business Insurance 

Many people simply insure their business for common policies, such as public liability and professional indemnity insurance, without checking the cover limit or whether their day-to-day operations are fully covered. If you are underinsured, this can cause big problems in the future, especially if you ever need to claim or find yourself in a court dispute.  
Another commonly overlooked factor is the lack of cover for the key people who are the lifeblood of your business. This includes directors, sales people, investors, and other stakeholders, where their absence or loss could pose a huge risk to your day-to-day operations. if you have employees, you are also required by law to have Employer’s liability insurance (£5 million minimum - some policies will automatically cover you for £10 million). 
At Intelligent Adviser, we have whole of market access to help you insure your business against various risks and threats. We will look at what you do, how you operate, the total value of your business premises and any equipment, as well as protecting the people who play a key role in running your business. Call 0330 113 0007 for more information. 
Did you know that certain policies offer tax relief for businesses, such as Relevant Life? 

Relevant Life Cover 

A Relevant Life plan insures your employees in case of death in service, or if they are diagnosed with a terminal illness, paying out a lump sum if they pass away. Paid into by the employer, this type of policy offers tax savings, and can also be very useful for directors wishing to provide their own individual ‘death in service’ benefits without arranging a scheme for all their employees.  
However, Relevant Life cover can be an incentivising employee benefit and a useful way of attracting new talent, as you will be seen as a caring employer, so this type of policy is well worth considering. 
At Intelligent Adviser, we have many years of experience and expertise when it comes to setting up Relevant Life cover for businesses – for more information, call 0330 113 0007. 

Key Man Insurance 

Have you ever considered what would happen to your business if you lost one of your key people? This could be your top sales person, an operational manager, or another important person. When a key person in your business dies, it could have a devastating financial effect.  
Key Man Insurance or Key Person Insurance helps to safeguard your business against the death, terminal or critical illness of a key person. This policy pays out a lump sum to your business to help you deal with any issues arising from their absence – for example, you could use the money to recruit another key person. 
At Intelligent Adviser, we will help you identify your key employees and calculate the level of cover required – for more information, please call our qualified team on 0330 113 0007. 

Stakeholder Protection 

Losing a shareholder in your business can cause a lot of stress and worry. There is also the risk that shares are passed to a deceased shareholder’s spouse due to a Will, and this in itself could have a huge impact on your operations too. Shareholder Protection insurance ensures that such a loss to your business is as smooth and pain-free as possible.  
If you have a limited company with more than one director, then Shareholder Protection is essential. This type of policy involves writing up a series of legal agreements that set out how shares are to be managed, if a stakeholder passes away. The policy pay-outs can then be used to purchase the shares of the deceased holder. Your company can take out insurance policies on the lives of each shareholder, or your fellow shareholders can arrange this individually. 
At Intelligent Adviser, we have great expertise when it comes to setting up Shareholder Protection for limited businesses – for more information, call 0330 113 0007. 

Business Loan Protection 

Business Loan Protection is another way to protect your business should a key person die or be diagnosed with a specified critical or terminal illness. This type of policy can help your business pay off an outstanding overdraft, loan, or commercial mortgage (during the length of the policy). Although some providers insist that you arrange Loan Protection directly with them, we often find that it is far more cost effective if you arrange this type of cover through a broker like ourselves. 
At Intelligent Adviser, we have access to a wide panel of providers for cost-effective Loan Protection - call our experienced team on 0330 113 0007 for more information. 
For more detailed information on the above policies, please see our Business Insurance Checklist. 
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