Don’t get caught out

Shareholder cover is insurance specifically designed for the unfortunate consequences that can occur in the tragic event of a shareholder’s death. In some ways it is similar to Key Person Protection, but it is different in several respects.

Often, the deceased’s shares will go with their estate or next of kin. However, often it may be preferable for the company to buy out the deceased’s shares, if it has the capital to do so. The lump sum payout from an insurance policy can be used for this purpose and allows for business continuity while at the same time providing a source of financial protection for the deceased’s dependents. So, freeing them from financial worries and giving them time to come to terms with their loss.

The independent financial advisors we work with, Pareto Financial Planning, can advise you on a plan that is best for your company, whilst also protecting the shareholders family. Shareholder cover, also known as partnership or shareholder protection insurance, is the best method through which to safeguard a company if a shareholder or control holding director should pass away.

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