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Call us for more information or complete the quick enquiry form on the right and we will send you the KeyMan Insurance quote to your e-mail address or fax if you prefer.
The quotes will include the full cost of our advice which is built into the annual premiums. This covers the following:-
There are plenty of ‘no advice’ websites around but I am sure that you will be pleasantly surprised at both the value and the price of our service.
We will be happy to discuss issues such as tax relief, trust options, etc. to ensure that your plans are set up correctly at the outset. The wrong agreements can lead to loss of business property relief on the death of a shareholder in a business so it is best to get it right at the outset.
If Critical Illness Cover is required then you need to be aware that the illnesses covered can vary significantly from insurer to insurer. Do you want ‘fully comprehensive’ or ‘third party, fire and theft’ type cover. This is one area where independent advice is vital and the cheapest is definitely not the best.
How much cover do you need? If you need help in calculating the amount of cover needed then we can help you with this. As a rough guide use the following calculator.
Shareholder Protection and Partnership Protection will need a more accurate analysis to determine the cover needed. Call us if you need help in this area. 0800 881 8085
Why Keyman Insurance (or should it be Keyperson Insurance!)
Keyperson insurance is often an integral part of the financial affairs of large corporations, however, medium to small sized businesses often forget to consider, or are unaware of the existence of Keyman insurance and the benefits it provides for the unfortunate scenario of the loss of an important worker.
Insurances against loss of machinery and other key assets are considered to be a requisite in the smooth running of any business; however, employees are not often considered to be assets- this is unusual because they are in fact one of the most important parts of any business. This often comes to light on the eventuality of the loss of a key employee.
Nine out of ten companies employ fewer than ten employees; these businesses are the most at risk of failure when faced with the loss of a key employee. Death or incapacity of an employee can soon be followed by the end of the business. The proportion of people susceptible to long-term illness is extremely significant and this should set alarm bells ringing for those companies who are not covered by Keyman insurance.
So, which kinds of employee should Keyman insurance cover? First on the list are the shareholders, directors and partners. Next, the employees who make decisions regarding the direction and the types of change needed for the successful continuation of the business. This is followed by the employee’s who bring in the money that ensures the business is always making a profit, and who are not easily replaced. And finally, consideration must be made regarding those employees who are essential for the smooth running of the company, such as the IT managers.
If you are concerned with maintaining an effective business structure, you cannot afford to neglect the risks of losing key employees, Keyman insurance should be one of the primary considerations in the financial running of any sized company, in any business industry.
We have a community of independent financial advisers based throughout Scotland, England, Wales and Northern Ireland as well as a variety of services available over the telephone or via the internet. So even if you are not based near to one of our branches, we can still ensure that you will get quality independent financial advice from our IFA team.
Call free today on 0800 881 8085
9am - 5pm Monday to Friday or leave a message outside of these hours and we will call you back.
Hanson Wealth Management Limited is an appointed representative of Hanson Financial Partners Ltd, which is authorized and regulated by the Financial Services Authority. Hanson Financial Partners Ltd is entered on the FSA register under reference 529347. The information contained within this site is intended for UK consumers only and is subject to the UK regulatory regime.
