Let’s explain how the policy works by way of a practical example:
14 years ago, Hugo, Anne and Patricia started up a limited liability company together. Hugo and Anne each contributed 25% of the capital, and 50%.
If Patricia dies suddenly, her sole heir, her son Thomas, inherits all of her shares. Thomas has a very difference vision for the company and wants to make major changes. Hugo and Anne do not agree, but Thomas owns half of the shares. The other 2 joint partners also do not have the means to buy out his shares.
All of which creates a great deal of argument.
The solution: a shareholder agreement with a purchase option, linked to an Omni Care death insurance policy.
- Sign a shareholder agreement with a call option at the notary, along with your other partners.
The heirs are then obliged to sell the shares they inherit to the surviving partners. That way you ensure that your shares remain with the original partners in the event of a death occurring.
- As a partner/shareholder, take out a death insurance policy for the other partners/shareholders with yourself as the beneficiary.
If one of the insured partners dies early, the surviving partners then use the insured capital to purchase the shares released by the death.
That way, you as a partner and the company are prepared for the future at a limited cost.
Immediate cover for accidental death
If your application is delayed, you will be covered for accidental death. You are covered for the initially insured capital (with a maximum of EUR 500,000).
This agreement ends after 1 month, or upon acceptance or refusal by the company. (For further information, refer to the general conditions "provisional coverage")