Business Protection

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.

These protection needs can be described as:

  • 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