Business

Protect your business from the unexpected

At Hanover Wealth Management, you will find advisers who can advise on the most appropriate ways to safeguard your business against the financial effects of death, terminal illness, critical illness or accidents for you, your partners or other key individuals.

Key-person insurance may provide a financial benefit to a business following the death or specified illness of an insured key individual. Whether it is appropriate, the amount of cover required and the policy terms will depend on the business's circumstances and the insurer's conditions.

Shareholder and Partnership Protection insurance can provide your business with vital protection and succession planning to provide surviving partners with funds to buy out the deceased share in the company and compensation for dependents.

The cover should be used alongside a shareholder agreement to prevent the potential issue of unsuitable of uninterested parties becoming shareholders in the company and also benefits the family of the party who suffers illness or death.

To discuss your business protection needs in detail, contact us today.

The tax treatment depends on your individual circumstances and may be subject to change in the future.