In the case of a young company with partners or shareholders, it is important to buy insurance in the event of the death of one of you. Very few business owners wish to manage their undertaking with their deceased business partner’s immediate family… and yet, that is exactly what will happen if you have not made provision for insurance which will enable you to buyout his or her heirs’ shares. Furthermore, it will be more difficult to assume the financial burden of the company’s debt if the owners are few. It may even be used as commercial loan insurance as well as life insurance by adding the debt and the amount of the shares. Our advice will prove useful.
If you have owned your company for a long time, doubtless you have planned your succession, but are you sure that this succession will be able to buy you out should something happen to you? If not, we can offer you appropriate insurance.