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business survival planning, key person insurance, business insurance, financial advice dartford, financial adviser dartford, financial advisors Kent

Business Survival Planning


If something happened to you, your co-owners or employees, could your business survive?

A study by Legal and General shows 40% of businesses would fold in less than a year following the death or critical illness of a key person.

The loss of a key person within a small or medium-sized business can cause unexpected costs at what would be a difficult time. Not only would the business have to fund the cost of recruiting and training a replacement, but it would also risk suffering:

  • Loss of profits
  • Loss of important business contacts
  • Loss of knowledge

Business protection insurance can help mitigate or even avoid these risks altogether.

As a business owner, you should know there are three main types of business protection:

  • Key Person Insurance – provides a lump sum to the business on the death of an important member of the business.
  • Shareholder Protection Insurance – provides a lump sum that will allow remaining shareholders to buy the shares of a deceased shareholder.
  • Business Loan Protection – provides a lump sum to help a business pay any outstanding business loans.

There is also the option for relevant life insurance in trust. Although this is not technically business protection an agreement can be made which specifies the terms on which proceeds can be used.

Critical illness cover should also be a consideration, as long-term or permanent absence from work, could cause serious financial pressures to you and your business

People are the biggest asset to any business and Business Protection Insurance is designed to keep your business trading should you lose the people responsible for your profit margin.

For further information or advice on setting up a business protection policy please get in touch.

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Face to face advice.


  • We talk you through everything step by step
  • How we’re protecting you

Find out more, click here