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Companion insurance

Something may happen to your associate. In that case, you want to ensure the continuity of the business.

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All about companion insurance

Working together on and in a business often produces a lot of creativity and diversity. We often see this with VOFs or a limited liability company with multiple DGAs. This comes with risks. Something could happen to your partner. In that case, you want to ensure the continuity of the company.

Companion insurance pays an amount to the surviving partner(s) upon the death of a partner. The partners take out companion insurance on each other's lives.

With the amount released upon the death of one of the partners, the other partners can buy up the deceased partner's business share, thus ensuring business continuity.

Getting companion insurance for your business? If so, please be sure to contact us. Our insurance advisors will be happy to help you.