Shareholder / Partnership Cover
The death or diagnosis of a critical illness of a Shareholder or Partner can put huge strain on a business and not just in a financial sense. It is not uncommon and recent statistical evidence suggests that in a business with four Shareholders/Partners aged 40, there is a 24% chance of one of them dying before reaching age 65 and a 74% chance of one of them suffering from a critical illness.
The death or incapacity of a Shareholder/Partner affects two groups. The family of the individual and the ongoing Shareholders/Partners. Planning in advance can address the concerns of both sides.
Putting Shareholder/Partnership protection in place means that in the event of the death or incapacity of one of the Directors/Partners, money is made available quickly to those remaining in the business. This can be used to acquire the deceased/incapacitated individuals share of the business meaning those continuing to work retain full control and the family are secure in the knowledge that they will receive a fair value of their share of the business. Importantly it also means the business does not need to seek external funding at a time which may not be ideal either because of business or economic factors.
Hammond Raggett & Company are Chartered Financial Planners and we have a wealth of experience in providing protection to meet the specific needs of a wide range of businesses. For more information about Shareholder/Partner Cover & Insurance call one of the team on 0161 834 2222, email us at enquiries@hammondraggett.co.uk or complete the form below.
We value long term relationships with our clients; but what do our clients say about us?
We have worked with Hammond Raggett & Company for many years; they helped us identify and understand the risks our business faced, and kept these under review with us as our business grew and developed over time. Hammond Raggett & Company assisted us in putting appropriate business protection insurance policies in place to suit our changing needs, and this was done quickly and with required steps needing my attention being kept to a minimum.”
Contact Us About Shareholder & Partnerships Cover
Chartered Financial Planners
Across the professional landscape, from accountants to civil engineers, insurance brokers, and financial planners, Chartered status stands proud as an indicator of the highest standards of learning and ethical behaviour. As a Chartered body of more than a century’s standing the CII grants Chartered titles to individuals and organisations which meet strict qualifying criteria.
What Chartered Status Means For Our Clients
When selecting an Advisory or Wealth Management form to work with, it is important that the firm is ethical and puts your interests first, and that its people are competent, knowledgeable, and committed to maintaining their professional capabilities.
These are precisely the qualities embodied by Chartered status – the reason we are proud to have achieved the title Chartered Financial Planners.
Chartered status is an objective mark of professional standing among all professions. It is awarded to firms that can demonstrate commitment to developing knowledge, enhancing capability, and maintaining ethical standards.