Insure The Key People in Your Business

You are here: Home » News & Views » Insure The Key People in Your Business

  • For your business
Image for Insure The Key People in Your Business

The majority of us insure our possessions, our cars and our business premises, but what about our people?

In business, insuring yourself and your key staff is just as critical to business success as having a good product or service. If a key member of staff in your business were to fall ill, what would happen to the business?

Self-employed individuals are susceptible to periods of unemployment and simply do not get paid should they be unable to work through instances of illness. Further, if your company employs staff, you are putting the business at great risk should they not be covered.

The premiums obtain tax relief however payments to the company in the event of a claim are assessable to tax. Life cover is also worth considering to ensure the sustainability of the business.

Paul Johnston, Accounts Manager at Ellis & Co Chartered Accountants and Business Advisors, said: “Insuring yourself and the key staff in your business is a valuable safety net should you ever find yourself in this unfortunate situation.”

Have a question? Please contact Paul for more information: Tel 01244 343504 & email pauljohnston@ellis-uk.com