Imagine what would happen to your business if you or your business partner could no longer work because of illness, injury, or even death. Could you afford to buy each other out? What impact would it have on your family’s financial security?
Buy/sell insurance supported by a legal arrangement can give you greater certainty about what will happen to your business if you, or your business partner, were forced to leave the business due to death, serious illness or injury.
With appropriate arrangements in place the business can change hands in an agreed manner, for an agreed value – with insurance used to fund the buy-out. Request Info >
Key Person Insurance
Key person insurance is corporate-owned life insurance cover designed to insure the business owner against the incapacitation or death of a key employee and can be implemented two ways as “Capital” or “Revenue” insurance. Request Info >
Key Person “Capital” Insurance
Key Person “Capital” insurance cover provides your business with a lump sum payment to preserve its asset base. This will assist in repaying debts, free up cash flow and allow your business to maintain it’s credit standing. Many businesses wouldn’t survive or would come close to closing down if a business owner or any Key Person inside of the business dies, suffers an insurable trauma event or becomes Totally & Permanently Disabled (TPD). Request Info >
Key Person “Revenue” Insurance
Key Person “Revenue” insurance cover provides your business with a lump sum payment to help compensate for the loss of revenue and replacement costs if a business owner/partner or key employee of your business dies, suffers an insurable trauma event or becomes Totally & Permanently Disabled (TPD). Numerous businesses suffer significant loss of revenue if they lose a Key Person to one of these insurable events. Request Info >
Business expenses pays a monthly benefit – generally for a maximum of 12 months – to cover business costs including rent, salaries, loans, electricity and other business expenses if you (as a business owner) suffer an illness or injury and are unable to work.
Business expenses premiums are usually tax deductible, and can be packaged with income protection insurance to help make sure both your personal income and work expenses are covered. Request Info >