Expert Advice on Life Insurance for Company Directors
In addition, commercial loans (business mortgages, commercial development loans, etc.) are often secured against company directors, managers or other key personnel. Should one of these guarantors unexpectedly die, your company may have difficulties repaying such loans in full.
Life Insurance for Limited Company Directors alleviates these risks by providing a lump sum upon the insured individual’s death. This lump sum can then be used to either pay off commercial debts or allow remaining shareholders to buy the shares owned by the deceased person immediately and without the stress of having to find the necessary financial resources. You also have the option to ensure funds can be paid to your family, so they can continue their lifestyle and standard of living, if you are no longer around.
Either way, Life Insurance for Company Directors could enable remaining partners/shareholders to retain control of the business to ensure it can continue running smoothly or you can ensure your family are protected.
Depending on the circumstances of you and your business, Spectrum FA are able to advise on suitable protection plans and will recommend the most appropriate plan for your needs.
For further information on some of the options available to you as a business owner and director, please follow the links below:
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