Don Murphy: 087 6595 111
Christy Santry: 087 6364 555

Business Protection

Co-Director/ Partnership Cover:

Following the death of a Company Director/Partner this allows the remaining Directors or Company Partners to redeem the deceased Director’s or Partner’s share of the company from next of kin with the proceeds of the insurance policy that was in force on the Director’s/Partner’s life.

This is hugely important as it removes the onus from the company to withdraw money from company funds or enter into a loan agreement to purchase the deceased Director’s/Partner’s share. It also provides for the Director’s/Partner’s next of kin and avoids any potential legal proceedings.

Keyperson Cover:

This cover is aimed at protecting the company against any potential losses in the event of the death or illness of a Keyperson. The policy is taken out by the company with a view to covering corporate borrowings, director’s loans to the company or a loss of profit that would arise through the death or illness of a Keyperson. The policy is generally affected in the name of the company with benefits accruing to the company and not to the individual’s estate.

How much cover do you need?

A simple measure is the required lump sum to redeem a mortgage coupled with the number of year’s worth of your annual income your dependents will need to keep them financially comfortable.

The simplest way is to multiply your income by the total number of years you think your family will need support.