Co-Directors Insurance

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01 4611500

Co-director cover provides a lump sum payment on the death of a director and enables the remaining directors to purchase the deceased directors shares in the business from the family and retain control of the company.

The death of a director can bring disarray to an organisation. It can 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.

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. Cover can be taken on a corporate basis by which the company pays the premiums and own the policy.