What is Partner/Director Share Protection?
The loss of a partner or director may destabilise the business and can quickly lead to financial difficulties. Partner/Director Share Protection means if the worst does happen, the remaining directors or partners can stay in control of the business.
How does it work?
In the event of a partner or director dying, falling terminally or critically* ill, Partner/Director Share Protection can provide a sum of money to the remaining partner(s) or director(s). This means the policy will pay out the sum assured on the insured event occurring, which may be an amount sufficient enough to purchase the deceased or critically* ill partner’s/director’s interest in the business.
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