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Partnership Protection

Protecting what matters most to your business

As a business owner you have tough decisions to make day in, day out and you know that unexpected events can have a dramatic impact on the long-term security of both your business and your employees.

We make it our business to take care of your business, that’s why we’ve teamed up with AIG to bring you a wide range of protection covers to protect what matters most.

How would I afford to buy my partner’s share of the business if they died?

One of the great risks of a business partnership is that one of your partners may die, with his or her share of the business passing to someone else. That person may have little interest in the business or - at worst - may be hostile to your objectives.

Equally a partner who suffers a serious illness may want to retain the option of continuing in the business or be compensated for their exit from the business.

The ideal solution is to have a partnership protection arrangement in place, to buy out a partner’s interest in the business.

Business Protection Term Assurance will pay out a lump sum if a person it covers dies or suffers a terminal illness* during the term of the cover. There is the option to include Critical Illness cover for added security.

*Terminally ill means being diagnosed with a life expectancy of less than 12 months.

Partnership Protection sets out the procedures and policies to help you retain control:

  • Agreements, insurance, and trusts can be established to protect the business against the financial implications of a partner’s death or terminal illness
  • Your business interests protected against hostile, or uninterested inheritors
  • Funds available to help buy out the deceased's interest in the business and compensate any dependents
  • Avoid the sale of assets to repay the deceased partner’s interest in the business
  • Retain confidence of employees and customers

Our chosen partner AIG

This range of protection products is provided by AIG. They complement us perfectly, adding choice and value to our range of products and mirroring our commitment to outstanding customer service.