This is business-specific life insurance that can provide compensation to shareholders of a company. If one of the directors dies, a lump sum will be released, enabling the surviving directors to buy the deceased person’s shares from their next-of-kin.
Peace of Mind: Company directors know they will be in the position to keep control of the company.
Ease and Choice: The deceased’s successor is not obliged to become involved in the business.
Stability: The remaining directors can retain ownership of the company and provide continuity for the business.
Options: This insurance can also provide serious illness cover.