Partnership Protection

 

The success of your business can depend on those who own and run the business. Have you ever considered how your business would cope if a partner or shareholding director died? 

It’s likely that the death of a partner or shareholding director would have a huge impact on the future of your business. The surviving partners or directors may struggle to continue the business or even to retain control of it. In the worst-case scenario, the financial strain may force the business to cease trading. 

Similar problems could occur if a partner or shareholding director were to suffer from or be diagnosed with a critical illness. Your share in the business is likely to be one of your most valuable assets and you will no doubt wish to protect it for the benefit of your family. 

Business protection can provide funds on the death of a partner or shareholding director. A legal agreement ensures that these funds are used to purchase the deceased’s share of the business from their estate. It is also possible for a similar payment to be made if one of the partners or shareholding directors suffers from or is diagnosed with a critical illness. 

Please note the plan never has a cash-in value. You should regularly review your cover to make sure it still meets your needs If you would like to find out more about how we can help protect your business’s future, please call us on the number above to arrange an appointment.

 

THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

IF THE POLICY HAS NO INVESTMENT ELEMENT THEN IT WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

THE POLICY MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. FOR DEFINITIONS PLEASE REFER TO THE KEY FEATURES AND POLICY DOCUMENT.

Copyright © 2018 The Financial Advice Bureau. All Rights Reserved

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily restricted at consumers based in the UK. 

The Financial Advice Bureau is an appointed representative of TenetConnect Limited, which is authorised and regulated by the Financial Conduct Authority. TenetConnect Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 149826.

Registered office: Sovereign house, 12 - 14 Warwick Street, Earlsdon, Coventry, CV5 6ET. Telephone: 02476 712770.

Principal : Mark Garrood

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