Protection for you and your business
The loss of a business partner to accident or ill-health can have an enormous impact on any small to medium enterprise, these impacts are even more dramatic when the business relies on a single individual.
Whether you lose the rain maker or the decision maker, your business is unlikely to recover quickly and in certain outcomes it’s even possible that your business may never recover at all.
If you lose your business partner, do you have access to the necessary funds to pay their spouse the full value of their inherited interests. Do you have an agreement in place requiring the sale of your ex-partner’s interests to you, or does their spouse suddenly become your new business partner. It really doesn’t matter how careful you are, there are things in life that are beyond your control.
Even the most carefully constructed plans can come undone through an unexpected event or illness, and without adequate protection the result for you, your business and your family can be very traumatic indeed.
Business expense insurance
Whether you needing to protect your hard earned assets or keep your business viable, business insurance to cover the cost of salaries and expenses at a time when you are unable to work can give you the peace of mind and assurance that you will have the ability to keep your business moving after any serious event.
If you’re a business owner, business expense insurance pays you a monthly benefit to cover business costs if an illness, injury or accident prevents you from working. You can use it to pay the salaries of you and your employees, as well as ongoing business expenses like rent, finance costs and utilities.
To get some straight forward answers on all your insurance questions talk to a Lifespan adviser today.