“54% of SMEs would not recover if they lost a key member of staff through death, critical illness or long-term incapacity.”*
Have you been sold Keyman Insurance in the past, such as when you took out a loan from the bank? If so, we could save you money. Call us now on 0116 253 5600.
We believe that your most important business asset is YOU and your key staff. Without these people, the business cannot survive for long.
Unfortunately, time and time again we are contacted by businesses that have suffered a loss of a key person/business owner and need our help to stop their bank from withdrawing funding or foreclosing on the business. Although we can buy time and help with restructuring, unless the business can find cash injection from somewhere (never an easy task in this situation!) the likelihood is that the business will fail in time, or at least be sold at a significant loss.
Keyman Insurance ensures that if a key individual of your business (including you) falls ill or dies, your company does not suffer financially. The business will receive an injection of capital or income to appease creditors and investors and meet your short to medium term cash flow requirements.
There are now many cost-effective options available to ensure that your business does not suffer should you or your key personnel fall ill or even die. Don’t forget, Director’s Loan accounts are repayable on death.
To speak to a qualified and experienced Independent Financial Adviser, in complete confidence and with no obligation, please call us on 0116 253 5600, or complete the enquiry form.
What if you, the owner, were taken out of business due to illness or death? Investors and creditors would want to ensure that their interests are still being rightly served in such an event and they will show little sympathy to those you leave behind.
Bankfield’s highly qualified and experienced Corporate Team can be there by your side to help negotiate with key stakeholders and creditors and to ensure that the cash is there to help your business survive.
* Source: The latest research from Scottish Widows (September 2013)