Income Protection Insurance

[Shammy28]

Does anyone know of any companies that offer Income Protection Insurance for businesses?

I was involved in an accident a few months ago and glad to say I have made a full recovery. During that time my business almost collapsed as I had a floor full or trainee's after I decided to restructure the company.

My absence meant a significant dip in income and the business nearly went under, luckily good people on ths forum gave me structured advice on what to do.

Since then I have worked hard to rebuild the business but it has been an eye opener. I assume many people here are the main income earners for their business, and maybe consider such insurances as you never know what could happen.

I do not mean to sound negative but I would prefer people not to go through what I did.

 

[APRogers]

Your financial advisor should be able to deliver this to you. I've just gone through this discussion with mine and it's important that you're able to substanstiate any income that you're insuring because, in the event of a claim, they'll only pay out what you've lost, not what you've insured against!

If you haven't already got one, get a good IFA, that's Independant Financial Advisor. I can recommend, by PM, if you want and are suitably local.

 

[Astaroth]

Where as I would have said to speak to your broker given that this is commercial insurance that you want rather than personal income protection.

Key Man Insurance is what you probably need.