Business Protection – Mortgage Solutions NI

What is Business Protection?

Running a business can be a hugely rewarding but challenging experience, and unforeseen events can cause disruption, or even put the stability of a business at risk.

Whilst no one can predict the future, Business Protection is there to help your company continue to thrive in the unfortunate event of a key employee, business owner or director suddenly becoming critically ill or passing away.

Types of Business Protection

Key Person Insurance

The loss of a key person from your company can have a destabilising effect. Key Person Protection gives you a backup plan if an indispensable colleague dies, or is absent due to a specified critical illness (if chosen at outset for an extra cost) or terminal illness (life expectancy less than 12 months).

Business Loan Insurance

When you take out Business Loan Protection, you’ll have some confidence in knowing that you can still pay an outstanding overdraft, loan or commercial mortgage even if the loan’s guarantor at your company has died or is unable to work due to a terminal illness (life expectancy less than 12 months) or critical illness (if chosen at outset for an extra cost).

Shareholder Insurance

The unexpected loss of a senior shareholder could complicate your company’s financial arrangements. Share Protection enables you to buy out the shares of a partner or director if they’ve died, or have become terminally or critically ill, if a valid claim is made during the length of the policy

Relevant Life Insurance

If you’re looking to provide an individual death in service benefit for your employees, you may wish to consider our Relevant Life Plan. It means that if an employee dies while the policy is in place, their loved ones can receive a lump sum.