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Corporate Co-Director Insurance

What is Corporate Co-Director insurance for?

Corporate Co-Director insurance can make funds available to a company to buy a director's shares from their successor when the director dies.

Who takes out Corporate Co-Director insurance?

The company on behalf of its directors

Why take Corporate Co-Director insurance out?

The surviving directors can lose control if the deceased director owned more than 50% of the company.

The deceased successor:

• may not be familiar with the business;
• could have cash flow problems because of losing the deceased's income.

Corporate Co-Director insurance benefits

• Gives the company funds to buy back shares if a director dies
• Means the deceased's successor does not have to become involved in the business
• Can also cover a directors becoming seriously ill

Find out more

To find out more contact your local broker or call 1850 202 102