As a business owner, what do you value the most? The obvious answer would be perhaps, information, documents, equipment and office space. Often overlooked is the importance of your most valuable asset – yourself and the people you rely on for your business to run from day to day. Few also realise how important it is to protect their business from the unexpected.
What is business protection?
Business protection is a type of insurance that helps protect your business against possible financial losses when illness, injury or death affects the owners (you) or your employees. By including business protection in your business plans, you are enabling your business with the ability to run as smoothly as possible, even when faced with compromising circumstances.
Of course, the type of protection you need is highly dependent on the size and nature of your business. Still, you need to make sure that both your business and your employees are properly protected, which is where business protection insurance comes in.
Why is business protection planning vital?
Making a business work is already difficult enough – imagine if you had to handle the unexpected consequences of illness or injury. Impacts such loss of profit, interruption to cash flow, inability to make loan repayments and change in shareholder control could be debilitating and even devastating to businesses, especially smaller, family-run companies. Also, many businesses that rely on key individuals are often under-insured or have no business protection plan in place at all.
Business protection differs from personal insurance because it reflects your business needs. For example, Keyman Insurance covers the life of your key employee, so as to protect against significant loss of earnings should they die or while they recuperate from serious illness or injury. In some instances, the financial impact could be so great that your business is unable to continue. Business protection planning allows you to put in place coverage that ensures that funds become available, should a key employee in your business become critically ill or die.
Who can take out business protection?
There are various solutions available for the specific needs of different types of business. Speak to a financial planner, who is equipped to offer you a comprehensive look at the types of business protection you need.
It is never too late to safeguard your most important asset – your business!
Join us at the Business Protection Seminar for an enriching evening led by our Principal Consultant Mr Stephen Chew, where you will learn about the four main components of protecting your business, assets and human talents.
Business Protection Seminar
Date: 6 September 2016, Tuesday
Venue: The China Club
168 Robinson Rd, #52-01 Capital Tower, Singapore 068912
UPDATE: Changed of Venue. Please refer to the email confirmation that we have sent to you for the new venue details.
Time: 6:30pm – 8:15pm
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