Frequently Asked Questions

Lifestyle Protection > Business coverage

• Q: How can I protect the continuity of my business?

  A:

  The following types of policy are designed to protect a business against the financial impact of the death or permanent disablement of a key person in the business. 

  Key Person Insurance. 

  Provides financial support in the form of a lump sum, on the loss of key personnel to a business for both revenue and capital purposes. It is paid to the company, not to the insured. It can include Life, Total and Permanent Disability and Trauma insurance on the key person.          

  Share Purchase Insurance.  

  Utilised in cases of multiple ownership of business. Ensures clear business strategy, combined with legal agreement to address issues associated with a business partner's death, disablement, or long term illness resulting in a change of ownership of the business. Ensures sufficient funding for business continuation and buy-out of any shareholders associated with the business.            

  Business Expense Insurance.

  This pays a monthly benefit to assist with day to day running of the insured's business if they are totally or partially disabled and unable to work. It assists with rent, mortgage repayments, amenities bills and many other allowable business expenses.

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