Architecture firm builds a protected future
Buy/Sell Insurance & Group Income Insurance
Four partners of an architecture firm were seeking a solution should any of them die or become permanently incapacitated, so Steadfast Life helped by implementing Buy/Sell Insurance.
In the event of a TPD or death, the funds would be used to buy out the shareholder’s equity so the other partners can continue with the business and the shareholder, or their estate, is looked after.
Steadfast Life worked closely with the clients’ lawyers to ensure the legal framework of the Buy/Sell agreement matched the company’s ownership structure, and reviews are undertaken annually to cater for any changes in value of the shareholding.
A Group Income Protection policy was also put in place to protect employees from illness or injury. This has helped attract and retain talent to the company.