FOR YOUR BUSINESS

SHAREHOLDER PROTECTION

A number of small to medium sized companies are owned by more than one shareholder. If one of those shareholders were to die or become totally and permanently disabled, the remaining shareholders would be faced with two options, to either purchase the exiting partners equity in the business, or to allow another partner into the business.

Often the best position for the existing partners is to purchase the shares themselves and to retain control.  Shareholder protection provides the funds to do this without the need to raise debt.

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KEY PERSON COVER

The success of any business is pivotal on the ability of that business to produce an income.  Within the business the people who significantly contribute to income producing activities are key people.  If a key person is removed from the equation the income stream of the business is significantly affected and the business will suffer, in some cases to the extent that the business will cease to exist.

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DEBT PROTECTION

Many small businesses use debt as a means of finance.  In order to secure this debt the lending institutions often require personal guarantees from the business owners.  Business debt protection is designed primarily to protect the business owner and their family from these guarantees should they become totally and permanently disabled, suffer a trauma or meet with an untimely death.

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STAFF BENEFIT PLANS

A great way to attract and retain good staff is to provide them with benefits they see as valuable. Group life and medical cover, has a distinct advantage over private cover in that your staff can be covered for things they may have exclusions or loadings (making their premium higher) under their private cover. May smaller to medium employers are now using these types of benefits to their advantage.

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An example is group medical insurance, where if you cover the basic plan, and you have more than 15 staff. You can secure pre-existing conditions covered for all staff members and their family. You don’t need to cover the cost of staff members family, they will often happily do this themselves, at reduced premiums.