Business Cover
Businesses, especially small ones, face significant risks when key individuals suffer critical illness or pass away unexpectedly. Yet, many lack adequate protection against such scenarios. While owners often secure personal safeguards, awareness of tailored business protection options remains limited.
The loss of a pivotal figure can severely impact daily operations, profitability, and the overall viability of a business. This disruption can lead to financial strain, necessitating the repayment of commercial loans or funding for temporary staff replacements.
In partnerships or multi-owner setups, surviving members may need funds to buy out an incapacitated or deceased partner’s share. Additionally, compensating the deceased’s family for their ownership stake may require immediate capital, which insurance can provide.
Explore our range of business cover options and gain peace of mind knowing your business is protected. Our expert advisors are here to guide you in selecting the best coverage for your specific requirements.
Protection enquiries…
Here at IMS Financial we are passionate about connecting our clients with a protection that truly suits them.
- Friendly advisers with a wealth of knowledge
- Access to a wide range of products
- Trusted and stress-free financial advice
Types of Business Insurance
Key Person Protection (Profit Protection)
Key person protection helps safeguard your business against the financial impact of losing a critical employee. This coverage ensures that your company can continue to operate smoothly by providing funds to replace the key individual and cover any potential profit loss.
Business Loan Protection
Business loan protection is designed to help your company repay outstanding loans in the event of the death or critical illness of a key individual who guaranteed the loan. This coverage ensures that your business remains financially stable and can continue to meet its financial obligations.
Share Protection
Share protection allows surviving business owners to purchase the shares of a deceased owner, ensuring business continuity and control. This agreement provides the necessary funds to buy out the deceased owner’s share, preventing outside parties from gaining control of the company.
Relevant Life Plans
Relevant life plans offer tax-efficient life cover for employees, including directors. These plans are tailored to your employees’ needs and provide a death-in-service benefit, giving peace of mind to both the employee and their family while being a deductible business expense.
Our Protection Services Include
Access to a wide range of products from over 70 lenders
A family-run business offering friendly and personal advice.
IMS Financial is an appointed representative of PRIMIS
Important
For our mortgage advice services, we will charge a fee of between £0.00 and £495.00. The level of the fee will be determined by the complexity of the enquiry and the duration of research required to assess your needs and provide a suitable recommendation.
IMS Financial is a trading style of IMS (Watford) Ltd. IMS (Watford) Ltd is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers
based in the UK.