Shareholder Protection allows the remaining business shareholders to stay in control of the organisation following the death of another business owner or shareholder.
In the event of a business owner dying or being diagnosed with a critical illness, share protection can provide a lump sum to the remaining business owners. This could be used to help purchase the deceased shareholders interest in the business.
If a business owner dies with no share protection in place, their share in the business may be passed on to family. It is worth having a Shareholder Protection policy in place to help ensure shares are retained.