Have you thought about what would happen to you and your business if you became totally and permanently disabled?
TPD Insurance is normally an optional extra cover on a life or trauma policy and commonly covers against you being permanently unable to work in your chosen occupation.
A claim payment for the TPD cover can enable a principal to buy out the financial interest of the business principal who suffers a permanent disability and is unable to work again. The appropriate buy/sell agreement needs to be in place.
Other types of Business Insurance Cover