Many business owners have insurance cover against damage to physical business assets and professional indemnity insurance. Buy/sell or partnership insurance is designed to protect the business owners. The insurance provides the proceeds to buy out the deceased or disabled person’s interest in the business.
A succession plan is essential for 2 reasons:
A business succession plan ensures that the needs of business owners and the beneficiaries/family of a deceased or disabled owner are met, and that the ownership of the business remains consistent with the wishes of the owners.
Protecting the income and capital of the business upon the death, disablement or critical illness of the business owners is where Agent For Life can assist you and your business. It’s all about putting in place an effective business succession plan with a funding mechanism, your insurance cover, to protect your business
We will work with your Accountant to ensure the insurance is based on the true value of your business and placed in the most tax effective way for your business.
We will work with your Solicitor to provide the information required to update your business’s Buy / Sell Agreement.
Contact us to organise your business’s protection for it’s owners and continuity of your business
Other Types of Business Insurance Cover