The death or illness of key personnel within a business can have a major impact on productivity, leaving an issue with expensive measures of replacement. The loss of a business owner may leave surviving shareholders struggling to purchase the ownership and there is no guarantee that family members inheriting shares will be compliant with a takeover or have the business’s best interests at heart.
You can protect against this through setting up a simple policy to provide payment in these eventualities, helping your business continue its profitability throughout difficult periods. Proper financial advice should be sought as the policies must be set up to pay the capital to the right person at the right time and not cause any hiccups to business operations.
Employee benefits can be a useful tool to attract the right personnel to your company and you should consider the use of these as part of your remuneration. You can set up life insurance, critical illness insurance and private medical insurance to ensure your employees feel looked after and valued to the company.
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This website is intended to provide information of a general nature and the contents are not suitable for everyone. We strongly recommend that you take appropriate professional independent advice before entering any obligations or transactions.