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Key Person Insurance Wolverhampton

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Corporate Consultants and key worker insurance wolverhampton

My name is Jack Morris and my company Corporate Consultants Wolverhampton specialize in devising contingency plans for businesses to survive the loss of a key worker or key shareholder. It is very unfortunate that companies fail to realize that this is a real issue. Business owners only concentrate on the the here and now and surviving from day to day. Who can blame them. There are bills to pay, cash flows to maintain and the all important profits to be made. However, all this takes a lot of effort and a huge amount of time until you can truly say that their business is a success. Company owners do need to have an eye on the future. A disaster such as the death of a key man or key shareholder can but a huge strain on a company. Without the expertise of the key worker the business may grind to halt. The expense of finding a replacement can be huge. This where key worker insurance comes in. It is one in a number of mechanisms that we at Corporate Consultants use to make sure that businesses in the midlands area can survive such drastic events.

Corporate Consultants

Specialists in Key person insurance and key man insurance wolverhampton

Corporate Consultants West Midlands can help with making your company future proof. Death and critical illness could destroy your company. Corporate Consultants are expert at producing the contingency plans that local businesses need. Key Man Insurance is an essential tool in the work that we do. Key man insurance policies can help you through the difficult times when an essential employee is critically ill or dies.

Key shareholder Insurance Wolverhampton

key shareholder insurance West Midlands

With shareholders there can be further problems. If a shareholder dies then the shares will pass to the family of the deceased shareholder. This in itself can cause problems. The bereaved family may have high expectations from the receipt of the shares. They may think that they are entitled to a large amount of money from the shares. This indeed may be what the other shareholders would want. Who wouldn't want to provide for the family of a deceased friend and business colleague? However, there may not be enough money in the company to buy the released shares. In turn the surviving family member won't get paid any money in wages unless they are actually working for the company. They may get a dividend if one is actually paid and the other directors can redirect the dividend into bonus payments instead. In other words the family could end up with some worthless bits of paper rather than shares that they can convert into the much needed money that they require. Once again we at Corporate Consultants use an insurance tool to solve the problem. This comes from an agreement that the shares will be bought from the family and that the family will offer the shares for them to buy. Once again the money will come from a key person insurance.