Typically, the directors of a company are both the shareholders and decision makers and if one dies or suffers a serious illness, it can cause significant difficulties for the surviving shareholders and the deceased’s successors.
The Loss of Key Personnel
The sudden death of a shareholder can cause problems for the surviving family and shareholders, including a loss of of control of the business for the surviving shareholders and/or the family being left with an illiquid asset, but little or no income.
Life Assurance is a relatively simple solution, by providing a lump sum to enable:
- the remaining shareholders to buy back the shares in the company from the deceased’s personal representatives, thereby retaining control of the business
- the family of the deceased shareholder to realise the value of their share in the business for cash shortly after death
Corporate Shareholder Insurance
Corporate shareholder insurance is life assurance affected by the company on the lives of each of the share holders, whereby the company buys back the shares in the company.
Personal Shareholder Insurance
Personal shareholder insurance is life assurance affected by each shareholder on either their own life or on the life of each other, whereby the remaining directors buy back the shares
Why not talk to us today and allow us provide, simple, cost effective solutions for all of your business needs
if you would like more information or discuss any particular item please contact us
COVID-19: What are the management liability implications for directors and officers?
COVID-19: What are the implications for employers as we return back to work?
What to do when your investments go down in times of crisis?
GDPR and Cyber Liability Insurance
Management of Safety, Health & Welfare at Work.
Environmental Liability Insurance