Corporate Protection

Company Shareholder Protection

Pertinent to Directors of firms who have shares in the underlying business.  An insurance policy is initiated to represent the value of each Directors shares. This will be written alongside a Cross Option Agreement whereby on the death of a Director the insurance monies will facilitate the purchase of the deceased's Director's shares from his/her estate. Critical Illness cover can be included within such an agreement giving the individuals the option to sell their shares or use the monies to assist recuperation and return to work

Key-person Protection

A policy to protect the business against the death or serious illness of a key employee.

A key employee may not necessarily be one of the owners of the business, they may be a sales manager, designer or financial controller.

If you feel that your business would suffer in the event that a key person dies or become seriously ill, then you should consider arranging key person insurance. This is often a simple term life insurance policy, which can include critical illness, owned by the firm or company.

These funds can be used to meet the company's financial needs while it reorganises or recruits a replacement. In the case of a critical illness claim it is possible the key person will return to work, so the funds could be used to pay a temporary replacement or replace lost profits.