Why it is vital to protect your business?
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Don't risk the future of your business - protect it
The future of almost 70%* of Irish businesses could be at risk if one of the directors or shareholding partners were to die. Why? Because they haven't insured themselves against the death of a director or key staff member whose loss could place the business at a financial risk.
If this happened to your business, as well as the loss of the director's valuable experience, skills and contacts, you could be forced into buying out the deceased director's shareholding or even taking one of the deceased dependants into the business. Director's Cover is designed to protect your business from the financial impact of the death of a director or key staff member. It's a form of Life Cover whose benefit is paid to the business, rather than to the staff member and their family.
Director's Cover protects your business in different ways:
- Your business gets to choose the level of benefit you want based on each director's worth to the business
- You can choose to insure against death and serious illness
- The benefit paid can be used to buy out the deceased's shareholding, cover any loss of income/profit as a result, pay for the recruitment and training of a replacement and cover the hire of interim staff.
We can help your business get protected
Every business's needs are different. We can help you arrange Director's Cover which is tailored to the structure and ongoing operational and financial needs of your business. We can also advise you on appropriate benefit levels and secure the best, most cost-effective cover.
*Source: Irish Marketing Surveys