Partnership Insurance

Under the Partnership Act 1890, the deceased Partner’s share of the Partnership automatically becomes the property of their estate. The death of a Partner could jeopardize the financial stability of the partnership as the remaining partners will have to either raise a capital sum to compensate the estate for their stake in the partnership or have the unwanted involvement of the next of kin.

Partnership Insurance is a Life Cover which is established through a legally binding agreement for one or more partners. The Life Cover that is put in place provides a lump sum payment which the remaining partners can use to purchase the deceased stake from the estate.

Compass Private Wealth have agencies with all the main Insurance Companies who provide Partnership Insurance Cover and can arrange the most suitable Sum Assured and Provider for our clients.