Shareholder Protection Insurance
Shareholder Protection Insurance
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How it works
Quote and Apply for Shareholder Protection Insurance In 3 Simple Steps
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Submit the details of the shareholders who need to be covered.
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What is Shareholder Protection?
Shareholder Protection Insurance is a life insurance policy designed to facilitate the buyback of shares from a deceased shareholder.
One of the most damaging events a business can fall victim to is the death of a major shareholder or key worker. Should a shareholder or owner die unexpectedly, the event can have a serious impact on the company, not to mention the shareholder’s family.
Shareholder Protection Insurance is a life insurance policy designed to facilitate the buyback of shares from a deceased (or seriously ill) shareholder. In the event of death or critical illness, a sum of money is paid to the remaining shareholders to allow them to buy back shares from the deceased shareholder’s wife or husband. In effect this allows the remaining shareholders to retain the ownership of the company and also rewards the wife or husband with a monetary value of the shares they have inherited.
How Does It Work?
How Much Cover Do I Need?
The cost of Shareholder Protection Insurance is based on each individual and the amount of cover needed.
As a rule of thumb, each person should be covered to the value of their shareholding. Most companies take out a cover for a term of 5 years and of course share values can go up and down. In this scenario, we can recommend to index link the cover which means the sum will go up every year. Or just cover yourselves for more than the current value to try and foresee any increase in value. It may be worth seeking professional advice on the value of the company before valuing the shares. We also generally advise clients to think about what amount of money they would want their family to receive for the value of their shares.
WHATS THE COST?
Why not give us a call or fill in the above quote form to get a quote. It takes no more than 5 minutes.
Why Shareholder Protection?
It doesn’t matter what type of industry you work in. Losing a shareholder to by death or serious illness can be catastrophic. It is therefore critical to ensure that you protect your business and livelihood with shareholder protection.
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We received a wonderful service from mykeyman and will be using them again. The service and product knowledge from team is excellent. Everything was made easy to understand. The price was the best we found too.
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The standard of service from MyKeyMan was first class. They kept me up to date with progress on my Relevant Life Policy, followed up promptly following delays caused by my medical practice being slow in compiling reports, and responded instantly and clearly to any questions I had.
Meet Our Team
Our dedicated team are here to offer you expert FCA qualified advice along with 1st class support to make sure the process is fast and simple.
Managing Director & Founder (My Key Finance Ltd)
Administration Manager at MyKeyManInsurance.com (My Key Finance Ltd)
Senior Keyman Insurance Adviser at MyKeyManInsurance.com (My Key Finance Ltd)
Customer Service & Website Admin at MyKeyManInsurance.com (My Key Finance Ltd)
UK’s Number One Business Protection Specialist.