EP077 – From Death in Service to Key Person Cover: Gary Lucas's Guide to Business Protections

In this inaugural podcast appearance, Gary Lucas, an independent financial advisor from Burlington Associates, discusses the critical aspects of business protection. He highlights the importance of various insurance products including death in service, income protection, private medical cover, and critical illness cover for employees. Gary also delves into key person cover and share protection for business owners, explaining how these measures safeguard businesses and ensure continuity. The podcast provides insightful advice for employers on how to implement these protections effectively and underscores the significance of these benefits in employee recruitment and retention. 00:00 Introduction and Welcoming Gary 00:57 Setting the Scene: Gary's Background 02:00 Understanding Business Protection 03:22 Employee Benefits: Death in Service 07:58 Employee Benefits: Income Protection 12:04 Employee Benefits: Private Healthcare 19:58 Employee Benefits: Critical Illness Cover 25:26 Business Owner Protections: Key Person Cover 27:54 Business Owner Protections: Shareholder Protection 34:37 Conclusion and Contact Information Connect with Gary Lucas on LinkedIn by clicking here – https://www.linkedin.com/in/garyjlucas Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/   Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/   We look forward to catching up with you on the next one. Stay tuned! We created It's a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don'ts to achieve MSP financial growth.