Telephone: 01206 331697 
Mobile: 07811 186600 
info@tapperfs.co.uk 

Insurance For The Biggest Business Asset - People 

Most businesses insure property, take out public indemnity cover and so on. However many businesses forget that their most valuable asset is the people in the business. If a director or key staff member dies or becomes critically ill, there can be serious financial consequences. The key issues are here in our Business Risk Short Guide.  

Our firm The Insurances Company, will work with you to establish the areas of risk posed by the death or illness of your directors and/or employees. We will then provide you with a costed risk report on the solutions we recommend. As your business evolves over the years and the risks change we will be there to provide ongoing support. 
 
Shareholder Protection 
A recent study by Legal and General about what would happen to the shares of a shareholder who suddently dies. It indicated that: 
 
26% the heirs would retain ownership but not work in the business 
17% the heirs would become active in the business 
15% the heirs wouldn't receive anything and shares go to the business 
13% the business would fold 
9% the shares would have to be sold to a 3rd party 
 
The same study looked at how the purchase of the shares would be financed. 
 
52% from personal wealth 
20% from a bank loan 
14% from business insurance 
24% from business cash reserves 
7% from personal pension fund 
 
Often known as a "Business Will", a company needs a succession plan and a strategy to ensure that the business can continue to function on the death of a shareholder. Funds need to be available to settle the financial inheritance of heirs and to avoid the company being controlled by those heirs who may not be appropriate for the business. In tandem with a copmany shareholder agreement we will help you with an insurance that will help the business will continue to function with funds you need to pay the estate of the deceased for those shares. 
 
Key Man Insurance 
The death or long term illness of a technical expert or a key manager is a threat to a successful business. Simple, cost effective insurance is vital to minimise this risk by having cash available to replace staff as quickly as possible. This can also be used to replace income that has been lost. 
 
Loans 
If a director dies, a bank may decide to call in a loan. This can cripple a business that does not have this available cash to keep running. Again simple life and critical illness insurance will protect the business and ensure the business survives. 
 
Staff Attraction and Retention 
Companies stand a greater chance of attracting and retaining good staff by providing added benefits in an employment package. We can provide group life and illness schemes, as well as individual life insurance, critical illness insurance and income protection for employees and directors. 
 
How Much Will This Cost? 
Business life insurance and critical illness insurance is no more expensive than personal protection and is underwritten in exactly the same way. The cost is borne by the business and your accountant will advise you on the tax implications. A company needs to ask what would be the cost of no insurance? 
 
How We Are Paid 
We do not charge a fee for arranging insurances. We receive commission for arranging insurance. 
 
Why Would You Use Us? 
We save you time, money and stress 
 
Meetings over Skype, Zoom or Teams. 
 
We are a trusted financial resource for short and long term goals with great client recommendations
 
We do not charge our clients a fee as we recieve a commission for arranging insurances. 
Call us on 01206 331697 or 078 1118 6600.  
Email us on info@tapperfs.co.uk 
 
 
 
Find out how we can help you with your insurance. 
CONTACT US NOW! 
By completing this form you voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone. 
By submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements. 
Business Protection Insurance
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