Business insurance advice

If you own or are a partner or director in a business, you might consider seeking business insurance advice to help cover you for those unexpected events. Depending on your situation and goals, your adviser might explore with you:

Business expenses insurance

Business expenses insurance is available to eligible self-employed persons who wish to cover their fixed business expenses should they be unable to work due to illness or injury.

Business insurance

Business insurance is designed to cover and protect key elements within your business. No matter what size the organisation, Business insurance is important if you want the business to continue. It also includes Shareholder Protection insurance.

Business succession planning

The success of a business can be severely impacted if a business owner dies or is unable to work due to illness. Incorporating a Buy/Sell agreement into a business succession plan can help to ensure a smooth transition of ownership to the remaining owners.

A Buy/Sell agreement ensures:

• that remaining business owners can continue to own and operate the business
• the departing owner or his/her beneficiaries can sell his/her share for a fair price
• the business can continue to operate with minimal disruption

Business owners need to ensure they can fund the departing owner’s share of the business. An insurance policy may provide an effective solution if the person dies or is unable to work due to disability or illness.

What kind of goals can business insurance advice be suitable for?

A business insurance advice strategy may be suitable for you if you:

• want to be able to pay business expenses like loans, rent, equipment leasing costs and utilities
• want to repay list business income, repay debt, replace potential losses, replace a business partner, protect a revenue or capital purpose related to a key person
• want to have a business succession plan in place to ensure the business can continue as the result of an unexpected event

Envision Financial Services provides business insurance advice

If you have a question about business insurance advice or would like to make an appointment please contact us.