Business Protection
The death or illness of a business owner or key employee can bring about a loss of revenue and impact on the profitability of your company.  Protection can be arranged to replace the lost revenue should such a situation arise to ensure that the business can continue to trade.

The death of a shareholder or partner of a company will obviously have an initial impact on the running of the business. A major consideration for the remaining shareholders or partners will be raising the finance to buy the deceased shareholder/partner’s portion of the business. If this cannot be done, the deceased’s next of kin may attempt to force a sale or appoint a representative to manage the business. 

Life cover for a shareholder or partner in the business can provide the liquid funds in the event of their death to allow the other shareholders/partners to buy their share of the business.

It is also prudent to protect any business borrowings to ensure their repayment.  Most lenders will request that life cover is put in place however it is always worthwhile to verify that the cost of such cover is competitive.

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