The risk of being in business applies not only to trading for a profit, but also to the death or disability of partners or major shareholders, key members and benefit packages that attract and retain good staff.
Business Insurance helps you identify, evaluate and deal with these risks, set up meaningful medical aid and pension benefits to create staff loyalty.
Has your company a Disaster Plan?
Do you have a Strategic Contingency Plan in place?
(This is extremely important for the Sole Proprietor).
Unless you have a certain arrangements to provide for them, they will be destitute! If your will does not state what you wish to happen to your business, it will be closed.
These risks are common to most businesses and the life cover solutions that we use to deal with them are:
A binding buy-and-sell arrangement funded by a life policy is the only sound way of providing in advance for protection against an event which may disrupt the whole business, guaranteeing ready cash at the right time.
In this way the survivors need not incur any extra commitments.
It serves two important functions:
You may use life insurance products that provide lump-sum benefits or products that are intended to replace lost income.
Another important aspect of treating risk in a business insurance context, is the tax and estate duty treatment of the policies that are used to address the particular needs.
Structured correctly, business insurance policies can qualify for substantial tax concessions.
I offer an invaluable added service of coordinating the ongoing administration of any product, between your company and the product provider.
We are an independent brokerage of some 25 years standing and have been instrumental in the formulation of effective insurance packages for many companies both large and small.
You must consult the schemes/company product brochures and rules for comprehensive benefit descriptions.
We will offer you the BEST HELP FOR FREE!
Medical aid pays healthcare costs.
What if a disability STOPS your income?
Peter Pyburn - Authorised Financial Services Provider, fully licensed to render financial services since 1991. Death and Disability Planning; Retirement Planning; Investment Planning; Healthcare and Estate Planning. More...
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Last update: May 19, 2022