Directors of businesses are often too busy running their firms to consider either what would happen if someone important to the business became ill or died, or what would happen to the business if a shareholder died.

Financial provision can be arranged to cover such circumstances and whilst this is often termed as ‘keyman insurance’ the reality is that these are two very different areas of provision.

Ensuring debts and cash flow are protected in the event of the death or serious illness of an important employee can be crucial in helping a firm stay in business when such situations arise.

Furthermore, having the cash made available should a co-director die can help ensure that the legal ownership of the business doesn’t face external threats.