Would your business survive?

What is the worst that could happen to your company?

•  Losing the contents of your building in a fire?
•  Computer theft?
•  Serious storm damage?
•  One of your shareholders dies and their grieving spouse becomes part-owner of your business?

You have, no doubt, insured your business against the first three. But are you protected against losing someone who is essential to its smooth running and future success? Losing one of the shareholders could prove the most damaging to your company, and it is more likely to happen than you may think.

For example, if your company had five shareholders in their early 40s, there is a 30% chance that one them would die, and a 36% chance that one of them would have a critical illness, before they were 65*(* Source: Based on 70% of TM92 ultimate mortality, and reinsurance critical illness experience).

If one of the shareholders dies, or has to withdraw from the business because of illness, the remaining shareholders may have a difficult time financially. And the shares could pass to someone who is not interested in the business – or someone the shareholders do not wish to work with. They will need capital to make sure they keep full control of the company.

No amount of money can make up for the loss of a colleague and friend. But a lump sum at the right time can make it easier for the other shareholders to carry on.

Protecting your family's future

If you die while still being a shareholder, your share will usually pass to your family. At this difficult time, they may wish to take the value of the share immediately. And they may not want to become involved in the business. So it is important that the remaining shareholders can buy out your share quickly and easily, so your family has the cash they need.

How can you protect your business ?

We can help you set up an insurance plan that is tailored to your company's needs for protection against death, critical illness – or both.

You can set up today's flexible insurance plans to match each person's shareholding, and you can have a different level and type of cover to meet each individual's needs. So it need not cost the earth to protect your company's most valuable asset!

To find out how little it could cost to protect your business, please call us on 01142 612020 today.