You’ve insured your premises, plant and
machinery, but how about the business’ most
valuable asset – you.
What would happen if you or a
key member of your staff were not around, or one
of your partners or fellow directors died – how
would the business survive? We could provide
advice on the following:-
Keyman Assurance
The business could take out a plan to cover you
and/or any key member of your staff so that in
the event of premature death, a lump sum (or
income) could be paid to the company to help
it survive what could be a very difficult period.
Shareholder Protection
In the event that one of your shareholders should
die prematurely, who would take over their shares? We
could arrange cover to provide the rest of the
shareholders with sufficient funds to ‘buy
out’ the deceased shareholders shares thus
avoiding any potential problems with the expectations
of the deceased family.
Partnership Protection
This is similar to Shareholder Protection but set
up within a legal framework to ensure that funds
are used to purchase the shares of the deceased
individual.
Each of the above plans could be set up to provide
funds should the individual be diagnosed with a
specific critical illness
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