Financial: Business Protection

General Insurance

Financial Services

The death or illness of a key employee, partner or shareholder can have a huge impact on a business of any size.

Key employee

The death or serious illness of a key employee could result in the loss of earnings or profit.

Shareholders- Partnership Insurance

What happens to the shares or interests of a partner in the event of death or serious illness?

How long could the business maintain a directors salary if he was unable to work due to an accident or long term illness?

There are solutions to thee questions:

Key person Insurance: provides a lump sum in the event of death of a key employee

Shareholder/Partnership: This involves the setting up of a buy and sell agreement, this agreement ensures that in the event of death that the shares are bought back from the spouse of the director by the shareholders.

This life policy ensures that the money is available to the directors to purchase back these shares.

Executive Income Protection: The company can affect a policy to provide up to 75% of the directors salary after a period of say 13 weeks. This takes the pressure off the company and the director is still receiving his income payments. This benefit is paid until the director returns to work or reaches retirement age.