You will pay a regular premium based on the cover that is required.

In the unfortunate event that this person dies, or becomes seriously ill, the policy will provide a lump sum to compensate for this event.

• Protection – If a key employee dies, a cash sum is paid to help maintain the business
• Continuity – Can help minimise interruption to business activity
• Financial Assistance – Can help with bank loans that involved the key person
• Staffing – Can help provide resources to find a suitable replacement for the employee

Availing of this kind of life insurance can give additional security to your business, as it safeguards against the loss of a key employee. As an employer, it can bring you peace of mind in the knowledge that you are protected from the financial fallout due from the death or incapacity of a very important member of your staff.

• Financial Stability – Gives surviving partners the funds to repay the deceased’s estate
• Ease and Choice – The deceased’s successor is not obliged to become involved in the business
• Peace of Mind – Partners have the security of knowing they can retain control of their affairs
• Flexibility – This insurance policy can be tailored to include Specified Illness Cover

The death of a partner may bring financial and legal problems for a business partnership. The remaining partners could be legally obliged to pay an immediate capital sum to the deceased’s estate. This money may need to cover a range of different costs such as undrawn profits, any share of partnership fixed assets, the balance of the deceased’s capital. The partnership may be under financial pressure to provide the deceased partner’s next of kin what is owed to them. Partnership Insurance will provide the necessary funds to pay the deceased partner’s estate for their share of the partnership.

Before taking out a Co-Director Insurance policy, the assistance of legal and taxation advisors needs to be sought.

You will pay a regular premium based on the cover that is required and the value of the shares of the director. Should the unexpected happen, the policy will provide a lump sum to compensate for this event. This can be used to purchase the deceased director’s shares from their next of kin.

• Stability – The remaining directors can retain ownership of the company and provide continuity for the business
• Ease and Choice – The deceased’s successor is not obliged to become involved in the business
• Peace of Mind – Company directors know they will be in the position to keep control of the company
• Flexibility – This insurance policy can be tailored to include Specified Illness Cover

The death of a director may bring distress and grief to any organisation. As well as that, it could jeopardize the security and direction of the company. If the deceased director was a majority stakeholder, the remaining directors may lose control of the company if the next of kin were to take over. The deceased’s family may be unfamiliar with the business, and may have cash flow problems after losing his or her income. Co-Director Insurance makes it possible for the directors to purchase the shares from the family, which could be the best option for all concerned.

There are both legislative and taxation issues that need to be examined to ensure that a Corporate Co-Director Insurance agreement is appropriate. Any company seeking to acquire this kind of business protection will require the assistance of legal and taxation advisors. The premium that is paid on a regular basis during the terms of the policy will be dependent on a number of different factors, such as the value of the shares that the director holds, the company’s turnover etc. Should the unexpected happen and the director dies, the policy will provide a lump sum to compensate for this event.

• Stability – The company can retain control of its affairs, by buying out the deceased director’s shares
• Ease and Choice – The deceased’s successor is not obliged to become involved in the business
• Peace of Mind – Company have security of knowing they will not be obliged to relinquish a majority shareholding
• Flexibility – This insurance policy can be tailored to include Specified Illness Cover

The death of a director may bring distress and grief to any organisation. As well as that, it could jeopardize the security and direction of the company. If the deceased director was a majority stakeholder, the company may lose control of its affairs if the next of kin were to take over. The deceased’s family may be unfamiliar with the business, and may have cash flow problems after losing his or her income. Co-Director Insurance makes it possible for the company to purchase the shares from the family, which could be the best option for all concerned.