For example, if a business partner were to die, it’s likely that their shares would be left to their spouse or another surviving family member, potentially giving that person a controlling share of the business. This could mean that the surviving business partners and shareholders have to raise the funds to buy that person out of the business, which could be exceptionally difficult and put the financial security of the company at risk.
A Directors Share Protection Policy is designed to provide cover for shareholders and business partners so that, in the event that one of them dies, the policy will make sure that funds are available to purchase the share of the company which has been left to the deceased directors spouse or family.
To find out more about how Directors Share Protection and how simple it is to put in place, why not contact us for an informal chat today.
A happier workforce
Financial worries are a common concern for many Brits. *Research conducted in 2019 before the pandemic became prevalent revealed that 77 per cent had money worries that impacted them at work. A third admitted their fears affected their sleep. One in five employees said they worried about their finances regularly.
In the survey of 5000 employees, 34 per cent said they would be unprepared for unexpected financial costs or a loss of income. **In a separate survey, almost 30 per cent confessed to regularly running out of money before pay day. One in seven people would struggle to pay their mortgage if it was just £99 more per month.
Yet with access to the right information, it is possible for employees to improve how they manage their money, resulting in less anxiety and more productivity at work.
MB Associates is offering free financial workshops to improve the wellbeing of employees and enhance employers’ benefits packages. Our informative, friendly workshops will offer fee-free mortgage and financial advice to your staff to help them save money and gain greater control over their finances.
For more information, please contact Monica Bradley at MB Associates on 020 8652 5240 or email firstname.lastname@example.org
*Close Brothers Financial Wellbeing Index
**Financial Times survey
For insurance business we offer products from a choice of insurers.
You may have to pay an early repayment charge to your existing lender if you remortgage.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.