Business
We are able to provide protection advice to business owners and the self employed.
Our advice process covers your business and lifestyle needs.
After a full business risk review , we are able to recommend the type and level of cover, policy ownership and structure, and a product that is ideal for your business survival needs and circumstances.
- Term Life
- Total and Permanent Disablement (TPD)
- Critical Illness / Trauma
- Income Protection / Business Expenses
We look at the follow areas of Business Risk :
Business Debt Redemption,
to enable the repayment of business debt and/or to assist with the release of personal guarantees supporting this debt,
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Keyperson protection,
to provide funding for the business in the event of a loss of a business owner or other key person,
Sharepurchase Insurance,
to provide funding for the transfer of ownership of a business from one owner to another in the event of a death or disablement of either owner,
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Business Debt Protection
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Most business owners are required to provide personal guarantees to secure business loans. Many business owners are unaware that on their death the personal guarantees will remain in force and transfer to their estate.
- enable your family to release the personal guarantees; and
- free up cash flow for the survival of the business, providing customers and suppliers with confidence that the business will trade through the loss of an owner.
Business Debt Protection Insurance provides the business with funds to repay or reduce business debts in the event of a business owner's death or disablement.
This will achieve two things:
SharePurchase Insurance
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The loss of a business owner due to death, injury or illness can have devastating financial consequences for the owner's family and the business.
- a business value or valuation method will have been agreed in advance
- the equity purchase price will be fully or partly funded by insurance
- a process and timing for equity transfer will have been agreed in advance
- if insurance proceeds are insufficient, payment terms for the balance will also have been agreed in advance
- ensure the outgoing business owner or their family receives fair value for the transfer of equity; and
- business continuation, the continuing owners retain control of the business without the challenge of dealing with a disabled owner or their family
A well structured Buy Sell Agreement supported by appropriate personal insurance for all owners will ensure an orderly transfer of business ownership because:
A Buy Sell Agreement is only as good as the ability to fund the transfer of equity or interest to the family of the deceased business owner. If at the time of death or disablement the surviving business partner can't meet the business equity purchase price then this can have a significant financial impact on their future, and that of their family. And can force the surviving business owner to run the business and share the profits with the disabled/deceased partners family or sell up.
Sharepurchase Insurance supports a Buy Sell Agreement by providing the outgoing busines partner/owner or their family with the required funds for the transfer of equity.
This will achieve two things:
Peace of mind for all parties.
Business Asset Protection
- Broadform Liability
- Statuatory Liability
- Employers Liability
Asset Protection
Business Liability
Commercial Vehicle and Fleet Insurance
Business Interruption Cover
Professional Indemnity Insurance
Contracts Works
Transit Insurance
Personal
- Family Protection
- Income Replacement Insurance
- Crisis Cover Insurance
- Total Permanent Disablement(Tpd)
- Private Health Insurance
Business
- Business Debt Redemption
- Key person Protection
- Share purchase Insurance
- Business Asset Protection
Farming
- Farm Assets
- Farm Vehicles
- Farm Liability packages
- Milk Cover Insurance
- Machinery Breakdown
- Farm Operation Interruption