Business Risk Management

An Astute Business Decision

Sometimes the most mundane pastimes can lead to unforeseen accidents and illnesses. For those in business relationships, the knock-on effect of such circumstances includes adverse influences on cash flow, profitability and business security. That’s why life and disability insurance for the partners in a commercial venture is a sensible precaution that every business should consider.

In the event that one of the partners in your business dies or becomes permanently disabled, the remaining partners or key shareholders need to ensure they have a succession plan to ensure business continuity. This may include access to funds, to allow the business to help streamline the transition of shareholding from the deceased or disabled partner to the remaining partners.

Our knowledge and experience can help you control these issues. We can help identify and analyse the risks your business faces and work with you on a management strategy.

Our team of employee benefits specialists can help your business with:

Confidence that the integrity of business ownership will be protected

Funds which may be used to reduce the financial impact on the remaining partners and the business in the event of a mandatory share buy-out

A fair and agreed transition process for all affected parties, including existing partners, the exiting partner and their respective family members.

The right life and disability insurance advice provides the business confidence necessary to address all of these issues without the requirement to ‘fire sale’ assets, go into further debt or tap existing cash reserves.

We can help

Understanding the various life insurance products available and deciding how much cover is necessary to protect your future is a business decision best made with the advice of professionals. We’ll talk you through three simple areas of protection you need to consider.

PROTECTING YOUR BUSINESS

Talking to a Legacy Life advisor will help to clarify the options available and then define the solution that best suits your particular circumstances.

Book a mobile advisor

Our friendly and experienced advisors can call in for a chat any time that suits you - during or outside of working hours is fine with us.