Many business owners regard insurance of tangible assets such as building, machinery, IT equipment, and vehicles as an essential part of running a business.
However, the importance of insuring themselves (and other key people in the business) is often overlooked. Should an unexpected illness, injury, disability or death strike one or more key stakeholders the impact on the business can be dire.
The long term absence or loss of a key person can have a dramatic impact on the business as well as each owners’ interest in the business.
Fortunately there are a number of strategies that can be employed to protect the business from the potential impact of these unforeseen events.
These include:
- Insurance strategies to protect you against loss of business income, and to protect your assets
- Protecting ownership of the business with a Buy/Sell agreement
- Income protection for the self-employed
- Ensure the continuity of your business with Business Expense Insurance
- Life and Total and Permanent Disability Insurance
- Business Succession Planning
Obviously there is a lot to consider and not all of the above strategies may be appropriate to your needs or circumstances. However it is important to know that safeguards are available to protect you and your business in the event of a crisis.
We can help you to review the available options and choose the most effective strategy for you.
