Business Protection – Key Person Insurance

There are 5.9 million¹ businesses in the UK. Small businesses are least likely to have protection in place for some of its most valued assets – the key people who make it the success it is! A Small business is also most likely to need to protect against the loss of a person who is key to its success.

Research shows that if a key person died or became critically ill, one in four businesses would cease trading within a year.²  Taking into account that most smaller businesses don’t have the support of finance, legal or HR departments to rely on, the need for protection is essential.

No two businesses are the same, so their protection needs shouldn’t be either. Macbeth Financial Services offer solutions for all businesses – including limited companies, sole traders, partnerships and limited liability partnerships (LLPs).

Businesses insure easily replaceable assets such as desks or computers but many forget to insure their key people. Find out how we can help your business to protect itself from the loss of your star performer or key strategist.

For more information on how we can help take a look at our page for Key Person Insurance.

 


 

1) https://researchbriefings.files.parliament.uk/documents/SN06152/SN06152.pdf
2) https://www.ftadviser.com/protection/2019/08/13/smes-at-risk-of-closure-if-key-person-dies/

Author: Simon Claxton | March 26, 2020

Contact the author

Related Articles

Talk to us today: Reading: 0118 916 5480 London: 020 7036 8767