Partnership Protection Information Page

Partnership Protection / Key Man Cover a brief description of the product on offer.

What do you plan to do if a fellow business partner dies?

Did you know that a businessman has a one in seven chance of dying before age 65?

If this happens you may have to cope with any number of the following issues which could lead to partnership failings. The "share of the firm could go to someone who has no interest in it. They might sell their "share" of the partnership to someone else, or possibly even worse, they might start interfering inspite of having no knowledge of the business.

It would make sense to have an agreement to enable surviving partners to buy the deceased partners "share", so that they retain control of the Partnership, this is something that all partners will be interested in doing!

This is normally done with a "Cross Option Agreement" with attaching life cover on all partners.

Upon the death of a partner, a life policy pays out a sum to the surviving partners. This enables the other partners to buy his share in the business without any tax liability using the cross option agreement.

If you require a quotation for partnership protection please telephone us on 0800 435648, or e-mail us by clicking below.

For any further information please e-mail by clicking below

admin@i-insuranceservices.co.uk

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