Business Protection



The Value of Protecting your Company 



KFS an independantly run business knows how important the human resource is in running a business. It further realises the importance of key members to a business and how one person can make or break a business. If death did occur to someone of high value to your company serious considerations surrounding the costs would have to been considered - such as the loss of income and ownership issues that will be incurred. By putting in place life insurance the financial risk to the company and its shareholders can be mitigated. 


Two policies for ideal Business Protection are described below.


Key Man Protection



Virtually every business will protect themselves from the loss of material assets such as buildings and contents, however they ignore the risk of losing personnel who may be vital to the sucess of the business. The risk of death or serious illness to a key employee can result in severe difficulties. As well as the costs involved in replacing the employee and the loss of income they generate for the company, deadlines may be difficult or impossible to meet, contracts may be lost and staff morale may suffer all leading to a loss of profits.


By putting in place an insurance policy owned by the company, it is possible to reduce the financial impact of the death or serious illness of a key member of staff.


Shareholder Protection



For private limited companies where there may only be a small number of shareholders, it is very important to consider the possible consequences of the death of a shareholder. Normally the shares would pass to the deceased's family who will often have no interest in the business and would prefer a cash lump sum. The remaining shareholders may also want to take full control of the business but may not have the resources to buy-out the shares.


Shareholder protection provides a lump sum on the death of a shareholder. This can then be used to purchase the deceased's shares providing security for the deceased's family as well as providing the remaining shareholders with full control of the company.


Kilkee Financial Services can provide advice on protecting your business and it's shareholders, identifying the level of cover that you require and sourcing the most suitable policies to meet your needs. Let KFS give you confidence in your company's future even if the worst were to happen.