Business Protection Cover
People Drive a Business. What's a Business Without Its People?
How Can I Safeguard My Business?
Many businesses invest in insurance for their physical assets like buildings, equipment, stock, and vehicles, as well as liability protection. But have you considered the impact of losing a key employee? Business Protection solutions could be the lifeline that keeps your business afloat in the event of unforeseen circumstances. The most invaluable asset to any business is its people. Without them, the company's survival could be in jeopardy. At Nexus Business, we're dedicated to safeguarding and supporting UK Small Businesses through our range of Business Protection options, including Key Person Cover, Share & Partnership Protection, and Relevant Life Cover. We offer simplified tools and resources, and we're here for you when you need us the most. Our Business Protection solutions are designed to help you seize opportunities, and our experienced team is here to guide you. Key Person and Share & Partnership cover can include Life insurance, or Life insurance combined with Critical Illness cover and terminal illness cover.
Ownership
In the unfortunate event of a partner or shareholder passing away or being diagnosed with a critical illness, the proceeds from the policy enable the remaining owners to buy out the affected individual's share of the business. Without this protection, the surviving owners could risk losing control of the business, potentially affecting its ongoing success.
Profits
Should a business lose a key person who significantly impacts revenue, the policy provides an injection of cash, helping to replace lost profits and potentially hire a replacement.
Debts
In the event of losing a key person, the funds received from the policy can be used to clear loans or other debts. Without this financial boost, investors and creditors, such as banks, may demand repayment, as they may no longer have confidence in the business's ability to manage its obligations. Relevant Life Cover is often considered a form of Business Protection. It's a tax-efficient life insurance policy that allows companies to offer death-in-service benefits to their staff."