Keyperson / Shareholder protection
Businesses may want to protect the key employees within their firm – perhaps the key salesperson, or the IT manager without whom the business will not function properly. Keyperson protection can provide a fixed sum should the individual be unable to work, or even die. The benefit will be designed to cover the firm’s expenses in meeting any emergency costs, recruiting a replacement employee and protecting the future of the business.
Similarly, if a key shareholder was to pass away, the firm’s remaining shareholders or directors may want to purchase the deceased’s shares from their estate promptly to maintain control of their business .and without causing additional stress and worry to the deceased’s family.
For more information about keyperson protection or sharholder protection contact Hollycroft Financial Services Ltd today.