The loss of a partner, member or shareholder through death or critical illness can have a major and detrimental impact on a business.
Shareholder protection insurance gives a lump sum to the remaining owners of the business to purchase the shares at a fair and previously agreed price. This ensures they retain control of the business so there will be no disputes as to how it continues.
Without this policy in place, shares belonging to a deceased or retiring partner could be passed to family members who may be unsuitable, or they may sell the shares to a third party with a different approach to running the business.
Book an appointment with me to discuss your succession and business protection plan and avoid uncertainty should the unthinkable happen.