Financial Perspective – Shared ownership critical illness insurance
Financial protection tailored for companies and their key employees.
Your company is on a roll and you’re planning to move into new markets, invest in new technologies… Then, out of the blue, you get some bad news: your long-time partner, a key player in your development plans, needs to undergo a major medical procedure and will be unable to work for an indefinite period. How are you going to cope with this challenge?
Shared ownership critical illness insurance might be part of the answer. Here’s how it works.
Strategic protection for the company
This type of insurance solution provides a quick injection of capital for a company if a shareholder or key employee happens to develop a critical illness. This money could then be used, for example, to offset any losses or opportunity cost associated with the person’s absence, to provide an income for the affected person, or to recruit new staff.
However, along with the protection component, this approach includes another key element: the return of premiums if the insurance is no longer needed.
A win-win approach
As shown in the following diagram, this type of insurance makes it possible to share both the premiums paid and any future benefits…