Any business that has more than one owner, a Key Person (or Key People), or business debt, needs to protect itself. The death or disability of one of its owners or key people can leave it financially exposed.
Buy/Sell (Ownership) Protection
Life, TPD and Trauma insurance, in conjunction with a valid legal contract is used to fund the transfer of ownership of a deceased or TPD’d partners share of the business to the surviving business partner(s).
Key Person Cover
- Asset (Loan) Protection – This protects business assets against bank guarantees in the event of death or disablement of a key person.
- Revenue Protection – Insures the business against the loss of revenue it would suffer in the event that a key person died or suffered a disability.
Business Expenses Cover
If you or someone in your business is the key revenue driver, what would happen to the business if they became ill or injured for a sustained period of time?
How would your business meet your fixed business expenses such as:
- Office rent
- Leases on cars/machinery
- Insurance Costs
- Utility bills
- Salaries for non-income producing employees
- Locum costs