You’ve insured the office printer. What about the person who wins the work?
Most limited companies insure their equipment and premises without question, then leave the directors, the shareholdings and the borrowing completely uncovered. Business protection is how a company survives losing the people it depends on. We advise directors on it in plain English.
Get the Director’s Business Protection Health Check Or book a conversationThe four covers
Shareholder & share-purchase protection
If a shareholder dies or becomes critically ill, this is what lets the remaining shareholders buy the shares, rather than finding themselves in business with a grieving family who never asked to be there. Usually paired with a cross-option agreement drafted by a solicitor.
Key person cover
Pays the company a lump sum if someone the revenue depends on dies or becomes critically ill. It buys time: to recruit, to reassure the bank, to keep contracts alive.
Relevant life
Life cover arranged by the company for a director or employee. Because the company pays the premiums, it can be a more tax-efficient way to provide personal life cover in certain circumstances. Whether it is depends on your situation; that’s a conversation for us and your accountant together.
Business loan protection
If the company has borrowing, or directors have signed personal guarantees, this clears the debt if the person behind it dies or becomes critically ill. Personal guarantees don’t die with the signatory.
Cover is subject to terms, conditions, and underwriting. Premiums may vary depending on individual circumstances.
CiK Finance does not give tax advice. How cover interacts with your company’s tax position is one for your accountant, and we’re happy to work alongside them. Trusts, cross-option agreements and legal drafting are referred to the relevant specialists.
The twelve-question test
The Director’s Business Protection Health Check is a twelve-question self-assessment. It takes about ten minutes and shows you where the gaps are: shareholdings with no exit mechanism, borrowing with no cover behind it, key people the company couldn’t survive losing. No jargon, no obligation.
Get the Health CheckDirectors with something, or someone, worth protecting
Limited company directors and business owners, usually with co-shareholders, borrowing, or one person the revenue leans on. Many of our business protection conversations start with directors we already advise on mortgages; the same understanding of your accounts does double duty.
Three steps, specialists looped in
The Health Check, or a direct conversation
Your call.
We map the gaps against what the company already has
Often some cover exists; it’s usually personal cover doing a company-sized job.
Recommendations in writing, specialists looped in
Accountant for tax, solicitor for agreements, us for the cover.
Start with the Health Check, or just talk it through
Get the Health Check Book a conversationThere is no client fee for business protection advice. We’re paid commission by the insurer if a policy is put in place.
CiK Financial Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority.