Would your business continue without your business partner or major shareholder?
Running a business is demanding enough when you’re all alive and healthy, let alone if one of the shareholders or business partner was unable to work due to illness or injury, major trauma, permanent disability or death. By putting in place protection for shareholders, combined with a buy and sell agreement, it may help your business avoid or minimise the financial impact.
Two parties need to be protected in the shareholder policy, the beneficiaries of the shareholder who is critically ill or has passed away, and the surviving shareholders and our goal at Lifestyle Solutions is to ensure the business can continue as well as help and protect both parties, including their beneficiaries.
What you need to know about our Shareholder Business Insurance
Highlights of what’s included:
- Peace of mind that you are getting financial support to help your business during a difficult time.
Is Shareholder Insurance right for your business?
It is worthwhile considering Shareholder Protection, if there is more than one shareholder and your company has a dollar value. Essentially, if you want to keep the capital of your business, and you cannot afford to ‘buy out’ shareholders shares immediately, you will need to consider Shareholder Protection cover.
Here are some of the reasons why our customers purchase Shareholder Insurance:
- They wouldn’t be able to afford to the ‘buy out’ their shareholder’s shares in the event of a death or disability.
- They want control over who they end up in business with, if something was to happen to a shareholder.
They want to secure a buy/sell agreement, so a solid financial solution is in place.