Co-Director Insurance

What is Co-Director Insurance designed for?

Co-Director Insurance makes funds available to buy a director’s shares from their successor when the director dies.

Who should take Co-Director Insurance out?

The directors themselves

Why should you take out Co-Director Insurance?

Surviving directors can lose control if a deceased director owned over 50% of the company.

As the deceased director’s successor:

• May be unfamiliar with the business
• Could have cash flow problems after losing the deceased’s income.

“By putting in place Co-Director Insurance there is no ambiguity regarding the ownership of the business should a shareholding director die.  And certainty is good for business”

Benefits of Co-Director Insurance for your company

• Gives company directors peace of mind
• Means the deceased’s successor does not have to become involved in the business
• Means the deceased’s successor receives fair value for deceased share of business
• Can also cover directors becoming seriously ill

Wexford Financial Services Ltd. will advise you of:

• The type of cover you need.
• The length of time you need it for.
• The amount of cover you need.
• The most competitive premium in the marketplace.