Directors of private companies or partners in a business want to ensure their family is taken care of in terms of the value of their share of the businesses should they die. A "Company Will" is simply an agreement that the deceased's family receives cash and the surviving directors or partners receive thier share of the business, based around a life assurance contract.

Key employees can also be insured to allow for the continuity of the business in the event of their death, or their suffering a critical illness.

See also under Companies - Company Wills