In the event of a shareholder dying, falling terminally or critically ill, Shareholder Protection can provide a sum of money to the remaining shareholders. This means that in the event of a valid claim the policy could pay out an amount sufficient to purchase the deceased or critically ill shareholder’s interest in the business.
- Your business will be protected in the event of the loss of a shareholder, particularly if they are a working director.
- If critical illness is covered, the critically ill shareholder will have the choice to exit the business and receive their share as a lump sum payment.
- Each shareholder can take out cover that is held in trust for the remaining shareholders(s) with what is known as a cross option agreement drawn up by solicitors.
- We will work with your other professional advisers to make sure that cover is set up in the right way for your business.
- Each step of the way we will explain what actions you need to take.
- Shareholder Protection can cost very little for a large sum assured that could protect the future of your business.
- We’ll make sure a solution fits your budget.
or call Steve Clemence on 01822 855555.