Protect your Cork Business with PPS Financial

As every business owner should know, the cornerstone of any good business is strong financial planning. With the right cover, if the unexpected happened, then your business would remain protected. PPS Financial specialises in providing impartial advice and business protection insurance in Cork. We provide a tailored service to both private and public sectors. PPS offers independent advice and support on the best solutions to ensure that you and your company are effectively protected if the unexpected occurred.

What is Business Protection?

Business protection is an insurance policy that is put in place to financially protect your business should you or a working member suffer from a serious illness or die. In the event of financial loss, this policy is designed to protect the survival and profitability of the business in the event of the unexpected occurring.

We at PPS financial understand the importance of protecting you, your business, and your employers against unforeseen circumstances. We are here to help guide you and put together a tailored and customised insurance plan specifically for ensuring the safety of your business.

There are several areas a business should consider protecting against, these include:

• Keyperson Insurance
• Personal Shareholder Protection
• Corporate Shareholder Protection
• Pensions Planning

Keyperson Insurance

Keyperson is a key employee, consultant, or director on who you rely on for your business to continue successfully. If this key person dies or suffers from a serious illness, then keyperson insurance will protect the company from the financial loss if the unexpected occurred.

Personal shareholder protection

This type of protection allows the shareholders of a limited company to take out cover to provide funds for the purchase of the shares of a deceased shareholder from their personal representatives with the life insurance contract affected by the shareholder personally. When putting this type of cover in place, it is very important to also consult with your own legal and tax advisers to put a Shareholder Legal Agreement in place so that in the event of the death of a shareholder:

• the surviving shareholders can exercise an option to compel the deceased’s personal representatives to sell the shares to them at market value.
  or
• the deceased’s personal representatives can exercise an option to compel the surviving shareholders to buy the shares back at market value.

Corporate Shareholder Protection

Corporate shareholder is protection where a shareholder can buy back his shares from his personnel representatives on death, with the insurance cost being borne by the company. This ensures peace of mind for the family and security for the company.

Pension Planning

We can provide your company with advice on making company pension contributions for owners/directors and for employees.

PPS Financial is committed to providing simple, reliable, and comprehensive advice to assist you and your Cork company.