Business Life Cover
Company directors, partners or joint owners of a business may wish to arrange an
insurance policy on the other director/partner/business owner to ensure that they would be able to buy out their shares of the business if the other persons were to die or becomes seriously ill. We can arrange insurance cover on the respective value of the shares in the business that each director/partner has.
Key Man Cover
This cover aims to protect the employer should they need to replace the key person who has specialists skills and/or market knowledge in the event of death, serious illness or loss of income. This cover will also protect a specific bank loan that may be given on the basis that this key person is working for the company.
It would be prudent to have life cover on the partners or company directors so as to be able to buy the other person’s share of the business should become seriously ill or deceased. This will protect the continuity of the business.
If you are thinking of arranging a business life cover, please contact us.