Business Insurance

BUSINESS INSURANCE

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Our experienced advisers minimise financial stress by protecting businesses should the worst happen such as desire of owner to leave the business, death, bankruptcy, disablement or long-term ill health, loss of a professional license and bringing the business into disrepute. There are strategies that you can put in place to manage these business risks now so that the business, business owner and employees are all covered.

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BUY/SELL INSURANCE PROTECTION

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• Life risk insurance may be effected on the life of a business owner to provide funds if he or she suffers total and permanent disablement or dies

• The proceeds of the insurance are used to fund the transfer of the disabled or deceased owner’s share of the business to the remaining business owners, in accordance with the terms of a buy/sell agreement.

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KEY PERSON INSURANCE PROTECTION

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• Life risk insurance may be effected on the life of a ‘key person’ to provide funds if a business loses the key person’s services due to total and permanent disablement or disablement or death.

• The proceeds of the insurance may be used to fund the consequential downturn in revenue and the associated costs of recruiting and training a new employee.

 

LOAN INSURANCE PROTECTION

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• Life risk insurance may be effected on the life of a guarantor of a business debt to provide funds id he or she suffers total and permanent disablement or dies.

• The proceeds of the insurance are used to repay the business debt for which the guarantor was responsible. 

 

BUSINESS OVERHEADS INSURANCE PROTECTION

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• Business overheads insurance pays eligible business expenses (such as the rent on business premises) if the life insured is disabled due to sickness or injury.

• In this policy we consider the events that can be solved via the purchase of insurance cover, regardless of whether they sit within a formalised succession agreement or not.