This deals with protecting your business from the adverse financial effects of the death of a key person, partner or shareholder. Business protection can be especially important to smaller companies whose reliance on key individuals for profit may be greater than large corporate.
There are two main types of business assurance, key man and partnership assurance / director share purchas
– Deals with protecting the families and co-owners in the event of the death of one of the partners / directors.
Each party agrees beforehand the value of his or her share and a combination of term assurance policies and legal documents are put in place to ensure that in the event of a partner or shareholders death, the remaining co-owners have a sum in place to buy out the family of the deceased for a fair sum.
Leodis financial offer protection products from a selected panel of providers.