Business Protection

Ownership Protection

Can protect your family if you’ve given personal guarantees

This type of insurance can go under many names including -

Ownership protection pays out a cash sum if a Partner or Director (with a share holding) dies or suffers from a critical illness. If the policy pays out the money can be used by the remaining Partners/Directors to buy his shares.

One of the main areas to consider for Partnerships and company directors with large share holdings should they pass away is -

For Example
The Commercial Director who owns 25% of the company suddenly dies of a heart attack

The shares are left to the spouse/partner who has no business knowledge

It’s always possible with a 25% share holding they could be a nuisance especially if they decide to sit on the board

Or they could sell the 25% to somebody or a company that the other directors view as potentially hostile







Ownership protection cover enables the following to happen