If a shareholder in your private limited company, member of your Limited Liability Partnership (LLP) or partner in your partnership were to die could you afford to purchase their share of the business? If not there could be significant implications for the future of your business. Share protection can help you protect the ownership of your business in this situation.
- What is Share Protection?
Share Protection allows the remaining partners, shareholding directors or members to remain in control of the business following the death of a business owner.
- How does Share Protection work?
In the event of a business owner dying or being diagnosed with a terminal or specified critical illness*, share protection can provide a lump sum to the remaining business owners. This means that in the event of a valid claim being made during the length of the policy, the lump sum could be used to help purchase the deceased partners/shareholding directors/members interest in the business.
*If Critical Illness Cover is chosen as an additional option for an extra cost.
Why consider Share Protection?
If a business owner dies with no share protection in place his or her share in the business may be passed to their family. This means that the surviving business owners could lose control of a proportion or, in some circumstances, all of the business. The family may choose to become involved in the ongoing running of the business or could even sell their share to a competitor. A share protection policy can help avoid these issues.
Simply give us a call or click FREE CONSULTATION and one of our advisers will contact you to help obtaining the right solution.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and loan amount. The FCA does not regulate most buy-to-let, second charge or commercial mortgages. The Financial Ombudsman Service is available at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.
Mortgage Circle is a trading style of Avram Financial Services which is authorised and regulated by the Financial Conduct Authority. Registered is England No. 9781006. Registered address 205 Kings Road, Fairgate House, Birmingham, B11 2A
0121 572 0675 / 0800 644 0190
Fairgate House, 205 Kings Road, Birmingham, B11 2AA