Business Solutions
Buy-and-Sell Insurance
You and your business partners should plan your ultimate exit from the business just as well as you planned your entry into the business. If a partner dies or becomes disabled, the remaining partners should be able to buy the share of the deceased or disabled partner. This will prevent someone buying into the business who the remaining partners did not choose, as well as enable the family of the deceased or disabled business owner to sell his/her share of the business.
Key Person Insurance
It is said that the most important asset in any business is its people. The ongoing profitability and sustainability and as a result, the capital value of the business, is largely reliant on the input of the key employees in the business. The loss of a key person therefore constitutes a risk for the business.
Key Person insurance is a simple, cost-effective solution that provides financial security and certainty for a business in the event of the death or disability of a key person. The business can take out a policy on the life of a key person to cover the business against the expensive replacement costs, or to cover the business against a possible loss.