Business Insurance

Partnership, Co Director & Shareholder Insurance

This is not only one of the most overlooked insurance policies for a business, but also one of the most important.  If you are in a partnership or are a co-owner of a business, have you considered the implications of any early death or disability of a partner, where no insurance is in place?

 On death, the shareholding will become part of that person's estate.  What are the consequences if funds are not available to the remaining shareholders to keep the asset?  And what about the family who might otherwise have no interest in maintaining a shareholding and would instead prefer to sell this?  A life insurance policy structured in the correct manner will ensure:

• Funds are available for the remaining shareholders to purchase the shares.  This will avoid the need to resort to borrowing or having to use existing funds to purchase the asset;

• Funds are immediately available for the family in lieu of these shares, which could otherwise prove difficult to sell to help remove the financial burden caused by a premature death or disability;

• It will allow for the continuity of the business with the remaining partners, where a shareholding might otherwise have to be sold to a 3rd party.

In conjunction with organising the proper insurance, we will arrange the correct Trust Deeds together with the Put and Call options for attachment to your shareholder agreement, as part of the service.

Keyman Insurance

This insurance is designed to financially protect a business from the effects of a serious illness or even death of a key member of staff who are central to the prosperity of the company. The insurance can't replace people but it can provide cash to buy time and cover the costs of temporary staff, recruitment, loss of profits or provide a cash injection.

Group Death In Service & Income Protection

Competitive rates are available for key employees, management or staff as a whole.  Group schemes are regularly used as a perk of employment and a valuable benefit to the business owner, your staff and their families. 

If you have an existing scheme that you have not re-priced, we can organise this on your behalf to ensure you have the best and most competitive group rates available.

If you would like more information or a quotation for a new scheme or to see if your existing plan is competitively priced, please contact me today.