Why take out Co-director Insurance?
The death of a director may bring distress and grief to any organisation. As well as that, it could jeopardize the security and direction of the company. If the deceased director was a majority stakeholder, the remaining directors may lose control of the company if next-of-kin were to take over. The deceased's family may be unfamiliar with the business, and may have cash-flow problems after losing his/her income. Co-Director Insurance makes it possible for the directors to buy the shares from the family, which could be the best option for all concerned.