Shareholder / Partnership Protection

Shareholder / Partnership Protection

Ensures that you regain control of your business by having the funds to buy the deceased or critically ill owner's share.

The loss of an owner can have a major impact on the success of any business. But it's not just about the loss of profits the business could suffer. Who would take their place? Not only in performing their day-to-day duties, but also in making decisions of how your business is run in the future. Have you considered the consequences?

Imagine if one of your co-owners were to die. What would happen to their share of the business? You could be forced to work with a member of their family for example. Virtually all owners that we advise state that the prospect of working with their co-owners' spouse/children is at best disruptive and at worst is unacceptable. Their family is unlikely to have the required knowledge of your business and may not have any interest either.

Over 50% of all businesses have left no instructions in a will or made any arrangements for their shares.*

Even more uncertainty is created if your co-owner suffers a critical illness (i.e. Cancer, Heart Attack, Stroke, etc.). Will they be able to return to work and if so, when? If they wanted to sell their share of the business, who would buy it? Having Shareholder/Partnership Protection in place ensures that all of these problems can be avoided. One Two Three Four Five

You and your co-owners have the security and peace of mind that:

  • The remaining owners keep control of their business.
  • The required funds are available to purchase their share of the business.
  • The critically ill owner, or their estate if they dies, gets fair value for their share.
  • Any arrangements are set up tax-efficiently.

*Source: Legal & General's state of the nation's SMEs report (5th edition). The premium stated below is correct as of 07.05.2021

£100,000 of Life Cover costs

£8 per month

for a 35 year old non-smoker, taking cover to age 65

FREE Expert Advice Contact one of our friendly Advisers on 0800 988 3637

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