Just like personal life insurance, in business, we need to take out protection against the unexpected illness or even death of our business partners and other key people. After all, the success of every business relies on certain individuals and if they are suddenly removed from the picture, this could seriously jeopardise your business.
We provide advice on the most appropriate protection products for your individual situation so that you can rest assured that if the worst did happen, your business would be covered financially. By putting appropriate insurance policies in place now, you can ensure you will have the money you need, when you need it.
Personal Shareholder Protection & Corporate Shareholder Protection
The death or serious illness of a shareholder can have major repercussions for the future of a company. It can cause immediate financial hardship for the remaining shareholders and maybe even loss of control of the company. In essence, the death or serious illness of a shareholder can potentially jeopardise the future of the company and can have major implications for the remaining shareholders.
Putting Shareholder Protection in place can benefit both the remaining shareholders and the deceased shareholder’s next of kin:
- A capital sum will be provided to buy back the deceased shareholder’s shares, ensuring the remaining shareholders retain full control of the company.
- The next of kin can rapidly realise the value of their shares and are assured of getting a fair price for them.