At Hanover Wealth Management, you will find advisers who can advise on the most appropriate ways to safeguard your business against the financial effects of death, terminal illness, critical illness or accidents for you, your partners or other key individuals.
Keyman Insurance Policies are designed to protect and compensate against financial losses that may arise from the death or critical illness of a key employee. From reduced sales and profits to loss of time, recruitment issues and capacity problems, as well as being upsetting, this situation can be very detrimental to your business and a valuable cash injection can often ease the strain.
Shareholder and Partnership Protection insurance can provide your business with vital protection and succession planning to provide surviving partners with funds to buy out the deceased share in the company and compensation for dependents.
The cover should be used alongside a shareholder agreement to prevent the potential issue of unsuitable of uninterested parties becoming shareholders in the company and also benefits the family of the party who suffers illness or death.
To discuss your business protection needs in detail, contact us today.