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Business Insurance

Business insurance can encompass almost any type of insurance but, generally speaking, they can provide protection for groups or individuals within a company .

The benefits of each form of cover should be weighed up carefully from both the company’s and the employee’s perspective.

The following are examples that can be entered into on their own, or grouped together under one policy:

GROUP LIFE AND DEATH IN SERVICE

These flexible term policies, which are tailored to individuals or groups, can pay out two to four times a person’s annual salary in the event of death in service. They are ideal for those involved in hazardous occupations. We have access to some incredibly competitive products aimed at groups of less than 100 people.

GROUP PRIVATE HEALTH INSURANCE

This employee benefit is a good incentive for the recruitment and retainment of staff. The total cost does not necessarily have to be borne by the company. Many decide to operate a discounted scheme whereby the employee also contributes an amount.
There are also some considerable advantages of private medical insurance for those running the company too, as it can be used to offer cover for all key personnel and their families.
Specialist insurers provide company schemes for small and medium-sized enterprises (SME's) with up to 50 members of staff, as well as others who deal specifically with large companies employing over 250 people. At The Insurance Service, we have the expertise to be able to guide you in this area, offering policies that meet your short and long term requirements.

SHAREHOLDER PROTECTION

These policies protect the company against a possibility of a shareholder dying and his or her spouse not wanting to continue with the business. The policy would pay an amount to the shareholder to buy them out.If this policy were not in place then the company,to continue trading, would have to borrow the capital to buy the outstanding shares.

LONG TERM DISABILITY AND GROUP ACCIDENT AND SICKNESS

These policies can also be used as an incentive when recruiting and retaining staff. For example, the employer can offer sick pay for up to one month and as an addition (either paid for by the employer, by the employee or as an employee contribution) to a company scheme.

For more information on any type of company policy, please feel free to give one of our consultants a call on 0845 053 3404.

KEY MAN INSURANCE

Have you got key people in your organisation that you could not afford to do without? They may be innovators or salespeople that in the event of illness or death the business would suffer irreparable damage. You can insure the individuals so that you can either recruit a new employee or bring in a temporary replacement.

Keyfacts

  • The FCA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide ifour services are right for you. FCA

  • We offer products from the whole of market for Private Medical Insurance, Term Assurance and Critical Illness Insurance.

  • We will advise and make a recommendation for you after we have assessed your needs for Private Medical Insurance, Term Assurance and Critical Illness Insurance.

  • No fee for Private Medical Insurance, Term Assurance and Critical Illness Insurance.

  • We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.