Business Owners

succession planning

Shareholder and partnership protection are life assurance policies taken out by shareholders and partnerships.

These protection policies provide the funds for shareholders or business partners to purchase the shares or partnership interest owned by a shareholder or partner who dies or suffers serious incapacitating illness.

These policies help business owners retain control of company or partnership and mitigate the impact a change in leadership would have on the company.

Business shareholders should have a legal agreement outlining the rights and obligations of the remaining shareholders to purchase the shares of the deceased in place before considering this type of insurance.

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Peter Whimster CeMAP

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