• Home
  • Lifestyle
  • Health & Wellbeing
  • Travel
  • Home & Garden
  • Money Advice
  • Home
  • Lifestyle
  • Health & Wellbeing
  • Travel
  • Home & Garden
  • Money Advice
Home » Money Advice

How Key Man Insurance Can Save Your Business

Yvonne Grint Posted On July 22, 2015
1
6.7K Views
9


0
Shares
  • Share On Facebook
  • Tweet It

Flour & Co is a bespoke bakery with a renowned reputation for offering a complete service to meet their clients’ wedding needs. Mr Flour designs their entire wedding cake and has built up a reputation over the past 20 years because of his designs and creativity.

After recent discussions, the shareholders have realised that their business relies heavily on the reputation of Mr Flour’s design. If he were to become critically ill or die during the length of policy, their business could suffer and they could potentially lose up to 70% of their profits. In addition, they may have to recruit and retrain a replacement, which could take at least three years.

They decide to take out a Key Person Protection Plan, which would provide the funds to deal with these problems should anything happen to Mr Flour.

Key Man Flow Chart

 

The loss of an integral employee or director could seriously damage your business. If the unthinkable were to happen to one of these people, would you be prepared? How would you cover the loss of profits, and pay for the cost of hiring and training a replacement?

We all know when it comes to business it is far better to be proactive than reactive. Cover starts from as little as £2.55 a week, get your free, no obligation quote and join business’ across the country protecting their future today by clicking below…

Keyman protection cta skinny

 

Post Views: 6,749
0
Shares
  • Share On Facebook
  • Tweet It




Author

Yvonne Grint


Could Your Family Survive Without Your Income?
Read Next

Could Your Family Survive Without Your Income?

1 Comment

Bayern Munich fotbollströja
September 16, 2017 at 10:42 am
Reply

Nice blog here! Also your site loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my site loaded up as quickly as yours lol


Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • POPULAR & TRENDING STORIES

    • 5 Things You Need To Know To About Online Bingo

    • How Lottery Winners Spend Their Money…

    • Top 4 Reasons You Should Have A Will In Place Already…

  • - Advertisement -
    LIFE (CREDIT) BANNER 356

  • We think it's important you understand the strengths and limitations of the site. We're a journalistic website and aim to provide the best Money Saving guides, tips, tools and techniques, but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong. This info does not constitute financial advice, always do your own research as well to ensure it's right for your specific circumstances and remember we focus on rates not service. We often link to other websites, but we can't be responsible for their content. This site is in no way affiliated with any news source. As mentioned above it is an advertisement. This site contains affiliate and partner links. Any testimonials on this page are real product reviews, but the images used to depict these consumers are used for dramatization purposes only. This website and the company that owns it is not responsible for any typographical or photographic errors. If you do not agree to our terms and policies, then please leave this site immediately. All trademarks, logos, and service marks (collectively the "Trademarks") displayed are registered and/or unregistered Trademarks of their respective owners. Contents of this website are copyrighted property of the reviewer and/or this website.

Privacy PolicyTerms & Conditions About UsContact Us
© Copyright Your Money Saving 2021 - All rights reserved
Press enter/return to begin your search