Business Risk Insurance Specialists
Business Insurance is an important consideration for business partners who hold a shared interest in the continuation of an enterprise or pratice through the input and association with each other and key employees.
Shareholder / Buy Sell
Shareholder cover will provide a lump sum in the event of death or total and permanent disability of one of the business owners. The proceeds can be used to provide liquidity so as to purchase the shares of the exiting partner.
Keyperson Revenue
Keyperson Revenue insurance will provide a lump sum benefit to the business in the event of death, total and permanent disability or a trauma event. The proceeds may be used to replace lost revenue, recruitment costs or to replace lost goodwill.
Keyperson Capital
Similar to Keyperson Revenue, Keyperson Capital insurance will provide a lump sum benefit to the business in the event of death, total and permanent disability. In this instance, the proceeds may be used to repay a debt, personal guarantees or directors loan accounts.
Business Expense
Business Expense insurance will provide a monthly benefit in order to allow the business or professional practice to cover it’s ongoing expenses in the event that a business owner or practitioner is unable to work due to illness or injury.
Questions to ask yourself:
As a shareholder / partner in a business, have you and your business partners considered what would happen to your respective interests in the business in the event of death or total and permanent disability of either of you? Will there be capital available to fund a purchase of the exiting partners shares?
If you have loaned money, or have signed personal guarantees on behalf of the business, do you want these repaid, or released, in the event of death or disability?
Is there a keyperson in your company, the loss of whom would impact revenues? If so, how would you protect against this loss?
How can Fairbridge Help?
With extensive experience in the Australian life insurance industry, Fairbridge specialist life insurance advisers are perfectly poised to provide you and your business partners with advice.
This may include the most appropriate levels of cover and structures of life insurance in order to ensure your goals and objectives are met when it comes to protecting your shareholdings, ongoing revenue and key employees.
Connect with us today
See how we can help. Contact us today.