Business Ownership Protection
Make sure your business remains in the right hands, should a business partner get a specified critical illness, be diagnosed with a terminal illness, or die.
If your share of the business is your most valuable asset, protecting it for the benefit of your family is an important consideration. Business protection insurance can not only make life easier and more straightforward for your family should the worst happen, but it also protects your business over the long term.
Protecting the ownership of your business is crucial. Business Ownership Protection can help ensure that if a business partner dies or is diagnosed with a terminal or specified serious illness, you could receive a lump-sum payment to help you purchase the deceased partner's or shareholding director's interest.
Shareholder And Partnership Protection
It's vital that all partnerships check a suitable agreement is in place, otherwise your business could suffer.
Many partnerships believe that the business would pass automatically to their fellow partners on their death but this is not necessarily correct.
The plan will have no cash in value at any time, and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
The policy may not cover all definitions of a critical illness. For definitions of illnesses covered please refer to the Key Features and Policy Documents.