What is Partnership Insurance designed for?
The death or serious illness of a partner can have major repercussions for the future of your partnership. It can cause immediate financial hardship for the remaining partners and maybe even loss of control of the business. In essence, the death or serious illness of a partner can potentially jeopardise the future of your business and can have major implications for the remaining partners.
To protect the financial security of a business partnership by compensating a deceased partner’s estate for their share of the partnership.
Who is Partnership Insurance for?
Partnership Insurance is for two or more partners in a business for example solicitors, dentists etc.
Benefits of Partnership Insurance:
- Gives surviving partners the funds to repay the deceased partner’s estate
- Means the deceased’s successor does not have to become involved in the business
- Can also cover a business partner becoming seriously ill
Why you should consider Partnership Insurance?
Your business could struggle to survive the death or illness of a partner, particularly a partner who controlled over 50% of the business.
Hennelly Finance will advise you of:
- The type of cover you need.
- The length of time you need it for.
- The amount of cover you need.
- The most competitive premium in the marketplace.