What would happen to your business if you were to lose an owner or a key employee due to disablement or death?
Every business has key people who play a vital role, from those involved in day to day operations to those that determine strategic direction – if you were to lose a key person from your business, the reality is that it could impact on the level of your business revenue, your ability to pay expenses, and your relationships with external suppliers and customers.
It could also have a significant effect on your business’s ability to meet debt repayments and may also lead to you reconsidering the ownership of your business, such as having to buy out a fellow shareholder.
Here are some important questions to think about:
- If a key person was lost from your business would you be able to replace them and successfully continue trading?
- Would the loss of a key employee directly impact ongoing revenue levels?
- What costs would be associated with replacing a key employee?
- Would you need to repay debt if you lost a key person from the business?
- If your business has multiple owners how would you purchase the ownership interests of a disabled or deceased shareholder?
- Could the loss of a key person result in the requirement to close or wind-up your business?
Make sure you look through our free guide, The AXA Business Brochure, which tells you more about the different risks faced by business owners.
Talk to the business insurance experts first
When you’re planning to manage the business risks associated with the loss of a shareholder or key employee we recommend that you first talk to an AXA Adviser. They have the knowledge and expertise to work with you to identify and recommend the most appropriate solutions based on your own business’s unique circumstances and objectives.
AXA has a range of business insurance products and ideas, and by talking with one of our advisers you can have the reassurance of a business insurance solution that is the best possible fit for your business.
AXA’s range of Business Protection options are designed to help minimise business financial risks, for your business. These include:
Covers ongoing monthly fixed business expenses if you (the insured), were unable to work due to an accident or illness.
Provides a lump sum payment if an insured owner or key employee suffered premature death.
Provides a lump sum payment if an insured owner or key employee suffered a specified major health trauma.
Provides a lump sum payment if an insured owner or key employee suffered permanent disablement.
Provides you with a regular income if you were unable to work due to an accident or illness
Designed specifically for farmers, it can provide you with a regular income if you are unable to work due to an accident or illness
Allows you to increase your insurances to keep pace with your business as it grows and changes
ASK AXA
You can get in touch with us about AXA’s range of Business Financial Protection products, right now, just call 0800 ASK AXA (0800 275 292), or send us your details and we’ll get in touch with you.