Protect your business against the death or critical illness of a key person
Business protection is an insurance contract that helps protect a business from the financial effects of key people being diagnosed with a critical illness or dying. Business protection is available for partnerships (including limited liability partnerships), shareholders, sole traders and key employees.
Provides a financial safety net in the event of the death or critical illness of a key person.
Provides funds to the remaining partners or shareholders so they can buy-out the critically ill partner or shareholder or purchase the deceased’s shares from his or her estate.
Provides funds to ensure repayment of a business loan in the event of death or critical illness.
Ensures business continuity by providing funds available to the remaining shareholders or partners to enable them to purchase the deceased or critically ill shareholder or partner’s share of the business.
Ensures the deceased’s family or the critically shareholder or partner receives a fair value for their share of the business.