Business Risk Insurance
Key Person Insurance
The absence of a key person can have a significant impact on the ability of your business to generate income. Key Person Insurance will help your business survive should you or a someone critical to the running of your business be unable to work due to illness or injury.
The two main types of Key Person Insurance pay either a monthly benefit or a one off lump sum to the business.
This can be used to hire replacement staff to keep the business running, cover ongoing costs or to simply give you time to make a decision
about the future of your business.
Business Expenses Cover
If you are in the situation where you are off work through illness or injury there are still likely to be ongoing commitments your business needs to meet. Business Cover will ensure these are taken care of until you can return to your business.
Business Cover will pay a monthly sum to cover eligible business expenses.
Eligible expenses include rent, mortgage, cleaning bills, electricity, accountant fees and advertising costs.
Shareholder Insurance
If a shareholder is no longer able to work in the business through death or permanent disability, what happens to their share of the business?
This event could see a spouse take ownership of their shareholding which may not be suitable for either the spouse or the remaining shareholders.
Insuring shareholders and setting up a share purchase agreement is a way of providing a certain and predictable outcome if a
shareholder can no longer work in the business.
If a shareholder dies or is permanently disabled, a lump sum payment insurance payment would be made to them while their share of the business
is retained by the other shareholders.
Saving on ACC Levies
You pay your ACC Levies each year but are you getting the protection you think you are?
ACC covers your for accidents only and has other limitations in terms of the benefits you receive. A review of your ACC structure
can result in better cover being arranged at about the same cost as what you are paying now.
Your ACC Levies are determined by the type of business you operate in addition to the level of taxable income you earn. You may
have people within your business such as a spouse who is not categorised correctly increasing your ACC costs.
By using ACC Cover Plus Extra along with a range of risk protection policies we can ensure you have a robust protection in place that
is right for your business.
