If you’re worried about the financial impact on your business of losing an irreplaceable person, Martin Wilcocks can help you with key person insurance cover. This is just one of the many steps you can take to safeguard the future of your business.
To arrange a consultation on key person insurance in Liverpool or across the North West, simply give Martin a call on 0845 200 4041. He’s a highly-experienced financial adviser working closely with business owners and entrepreneurs across the region.
What would you do if you lost a key person?
Many organisations have a key person who makes the business work, contributing greatly to its income, growth and success. This could be an employee, or it could even be you as the business owner.
If your business greatly depends on this person, you need to consider what would happen if they were to pass away. None of us can predict the future, so while this is a distressing situation to imagine, there’s no way to rule it out.
For many businesses, the loss of a key person would also spell the death of the company. Such a tragic event could mean there is no one to handle important customers, make sales, keep the books or manage the employees.
How key person insurance can help
With an appropriate insurance policy in place, your business will be financially protected if a key person dies. The payout from the policy can provide vital funds to keep the business running until a replacement person can be recruited and trained. It’ll be used for the payroll and to pay the bills, as well as covering recruitment costs.
If business closure is unavoidable, the lump sum from the policy can support the responsible winding down of the operation. It can be used to ensure staff receive pay and severance packages, debts are paid and investors receive money owed to them.
As an expert in key person insurance in Manchester and the North West, Martin Wilcocks can help you to identify the key people in your business. He’ll recommend insurance policies that are right for you, and the level of cover you need.
If you only have a vague idea of the financial impact of losing a key person, Martin’s calculations can give you the hard facts. In most cases, this helps business owners to understand the importance of getting key person insurance cover as a matter of urgency.
No time? Let Martin handle everything for you
Martin Wilcocks has worked closely with many North West business owners over the years, so he understands the value of your time – and the stresses you face when running your own business. This is why it can be a huge relief to have an expert provide straightforward, practical advice, and put the right insurance in place on your behalf.
You’re in safe hands with Martin, whose philosophy as a financial adviser is all about responsible, watertight future planning. To take advantage of his decades of expertise in key person insurance in Chester and elsewhere in the North West, get in touch today.