• What would happen to your business if you or your partner or key employee were to die prematurely or become seriously ill?
• Who would control your share or your partner’s share of the business?
• How would your business cope financially?

Business protection cover can be taken out to ensure that you financially protect your business in the event of a death or serious illness of you, your partners or one of your key personnel.

There are different types of business protection plans available depending on your business structure and individual needs. It is a complex area and therefore detailed professional advice should be sought before arranging cover.

Keyman Cover (Keyperson cover)

Keyman Cover (Keyperson cover) is arranged by a company to provide cover on its key employees. The cover provides a lump sum amount designed to compensate your company if an important employee were to prematurely die or become seriously ill.

Business Partners/Co-Directors Cover

Business Partners/Co-Directors Cover is taken out by a company to ensure that funds are available to those partners/shareholders left in the company to purchase the shares of a deceased partner/director from their surviving estate.

Company Buy-Back

Company Buy-Back is similar to the Business Partners/Co-Directors cover however, in this case it is the company itself that buys back the deceased partner's shareholding.

We recommend you seek our independent financial advice on creating the most suitable protection plan to financially protect your company. Call us today to arrange to speak to one of our independent financial advisers on 01 639 5536 or email info@brennanpi.ie