Business Insurance Protection
The importance of business insurance protection
Protecting our homes, cars and possessions is something we don’t really think twice about. Similarly at work, we ensure our assets and employees from potential risk from accidents or claims. However, if you’re the co-owner of a business, either as a partner or shareholder, what would happen if you or a key person fell ill, died, or you lost control of your business altogether? Without sufficient business planning & protection, you could be in serious trouble.
Business protection insurance overview….
Shareholder protection insurance – If your business partner dies the partnership is automatically dissolved and their share could be passed to someone who has no interest in your business or the sufficient knowledge to help run it successfully. Effective business continuity planning will help to mitigate these risks.
Key Person Protection insurance – Many SME’s could not financially sustain the loss of a vital employee, either through death or critical illness.
Loan Protection insurance – Whilst it’s common for businesses to borrow money, if you or another key person were to pass away suddenly, or becoming critically ill, how would the business manage the repayments? Similarly you may also be liable for repaying any Directors’ loans that you may not have previously been aware of.
These are just some examples of what Business Security Planning is available to you to help protect your business.
"Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off."
— Carlos Slim Helu
How we can help:
At One Financial Solutions, we will help you effectively identify and manage potential risks that you and your business could face. We will guide you through the different types of insurances available to you and assess what level of cover is best for all situations, so although it can never replace a friend or business partner, you will at least have safeguards in place to keep your business and its future secure.
"OFS showed us that there are several ways to look at things and your first option / choice is not always the best in the long term"
Testimonial:
“Daniel showed himself to be smart, charming and attentive. He’d also done his homework ahead of time and ensured he was informed about the governance of our charity.”
– January 2024
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We’re more than just financial advisers
At its core, One Financial Solutions believes in restoring humanity to the often impersonal landscape of financial management.
Recognising that each individual’s life, interests, and mindset are pivotal components in the financial journey, offering personalised guidance that transcends mere numbers and charts.
By fostering a deep understanding of our clients’ circumstances, One Financial Solutions empowers individuals to navigate their financial paths with confidence and clarity, ensuring that their aspirations and dreams remain at the forefront of every decision.
