The death of a Partner, Director or other key person is always a highly emotional and upsetting time. Unfortunately it may also have a financial impact on your business leading to a potential decrease in revenue and possibly the business failure.
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Key person insurance will, following the death of an essential member of staff, pay out a cash sum to the company to allow time to restructure the business and replace lost expertise.
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Shareholder insurance ensures that on the death of a shareholder funds are immediately available to the surviving Shareholders to purchase the deceased share of the business. This ensures that the business stays in the hands of the remaining shareholders.
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Partnership assurance allows partners to make financial provisions for the death or retirement of a partner. This option ensures that funds are available to purchase the deceased Partner’s share of the firm.
