Corporate
Helping you build and protect your business
Whether you are a sole trader, partnership or a limited company, Downton & Ali can provide comprehensive and objective financial advice to all business owners.
We help businesses achieve their financial goals and support you to ensure the right cover is in place for every eventuality.
Find out more by calling us on 020 3021 0075 or email us at info@downtonandail.co.uk
Business Protection
Have you considered how to protect your business? Do you know what would happen to your business and its profits should a key member of the organisation, such as a shareholder or director suffer a serious illness or die?
As a business owner, you need to have a good understanding of the company’s current financial position and be able to plan effectively for the future. Often known as succession planning, understanding the value of key members of your organisation and how changes to their circumstances could impact the business, is paramount.
For more information, please read our Business Protection Guide.
Where to next?
Sole Traders
A sole trader is someone who works alone. Sole traders should consider:
- Life assurance
- Critical Illness cover
- Healthcare
- Income Protection
- Retirement planning
If a sole trader employs key people in their business, then additional consideration should be given to Key Person Protection.
Partnership Protection
Partners in a business have the same requirements as a sole trader, however you should also consider the financial implications to the business and each individual if a partner were to suffer a::
- Sickness or injury
- Critical illness
- Death
On the death of a partner, their share will pass to their estate and technically the partnership will be dissolved.
A partnership agreement can prevent this. It is often in the remaining partner’s best interest to buy the deceased’s share. This means that they need a Partnership Assurance Protection plan in place.
Limited Company Protection
Just like a partnership, a Limited company’s shareholders need to protect against the death or critical illness of a shareholder. A shareholder protection plan can provide financial security to joint owners of a business in the event of a shareholder’s death or critical illness.
Life Insurance
A business agreement can be put in place, that in the event of one shareholder’s death the proceeds of a life insurance plan can be paid to the remaining shareholders. These funds are used to pay for the deceased shareholder’s interest in the business from his or her estate.
This means the shares remain within the company, but the beneficiaries of the deceased shareholder, receive the monetary value of those shares.
Key Person Protection
Key person insurance protects a business should it lose a person who makes a significant contribution towards the profitability of a company. In general, a ‘key person’ is determined by the individual’s death resulting in a significant reduction in profit, because of the impact on business continuity, while new measures are put in place. Key person insurance must be owned by the business, not an individual.
Downton & Ali Associates business consultants can help you evaluate your company’s business needs and arrange a comprehensive plan to help protect the shareholders and key person/s within your organisation.
Business Insurance
We have access to some of the best-known insurers for commercial insurance. Whether you need to insure your premises and stock, need employer’s liability, public liability insurance or indemnity cover, Brian Downton of Downton and Ali is Dartford’s Protection Champion. We can help you evaluate your company’s business protection needs and arrange an insurance policy that meets your needs.
Downton & Ali Associates business consultants can help you evaluate your company’s business needs and arrange an insurance policy that suits your needs.
Corporate Private Medical Insurance
Our referral Partner for Group Medical Insurance is VITALITY Health.
As well as protecting your employees when they are unwell, it also helps them lead a healthier life. This means that they don’t have to claim to benefit.
Find out more by calling Brian Downton, Dartford’s Protection Champion, on 020 3021 0075 or email brian@downtonandail.co.uk.
Find out more by calling us on 020 3021 0075 or email us at info@downtonandail.co.uk
