A company needs a succession plan and a strategy to ensure that the business can continue to function if a shareholder becomes critically ill or dies.  

Funds need to be available to settle the financial inheritance of heirs and to avoid the company being controlled by those heirs who may not be appropriate for the business. 

 

The death or long term illness of a technical expert or a key manager is a threat to a successful business. Simple, cost effective insurance is vital to minimise this risk by having cash available to replace staff as quickly as possible. 

 

If a director dies, a bank may decide to call in a loan. This can cripple a business that does not have this available cash to keep running. Again simple life and critical illness insurance will protect the business and ensure the business survives. 

 

Business life insurance and critical illness insurance is no more expensive than personal protection and is underwritten in exactly the same way. The cost is borne by the business and your accountant will advise you on the tax implications. A company needs to ask what would be the cost of no insurance? 

 

We do not charge a fee for arranging insurances. We receive commission for arranging insurance. 

 

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