- The death of a Company Director/Partner will have a serious impact on both the surviving Directors/Partners and the deceased’s successor.
- Shareholder/Partnership Protection will provide a lump sum which will enable the remaining parties to purchase the deceased’s shareholding.
- Ensures the remaining parties retain control of the company/partnership whilst ensuring that the deceased’s next-of-kin get fair value for their shareholding.
Key person ProtectionThe financial impact on the death or illness of a key person (company owner or employee) can be felt through:
- Loss of profits / loan repayments
- Loss of key relationships
- Recruiting a replacement person
Key person Insurance protects your company on the death or specified illness of a key person by paying out on the financial loss incurred as a result.