Business Assurance

Business assurance provides not only for the continuity of the business, but also strengthens the business structure.’

Buy and Sell Agreements

Every person in a business or who is contemplating starting a business should ask themselves the following questions:

  • What happens to the business should I die or become permanently disabled or retire? Does the business continue past the event or does it cease?
  • Should a fellow shareholder die – what becomes of his shareholding AND will I have to try and run the business together with my deceased shareholder’s relatives?
  • Will the relatives have sufficient experience in the business to be effective or will they create unnecessary tension – Would you want to have the relatives in the business?
  • Will I have enough cash to buy my deceased shareholder’s shares in the business?
  • Will the bank manager and/or creditors be satisfied with my deceased shareholder’s family running the business?

The solution: We assist you to construct a properly worded Buy-and-Sell agreement with all shareholders/partners together with properly calculated risk policies for life and disability cover. In the event a partner/shareholder has to die or become disabled, the policy will pay the sum assured (equal to shareholding amount) to the necessary beneficiaries.

Key Person

A key person is someone who is fundamental to the running of a business. If this person has to die or become disabled it would be costly to replace them. This is funded through a policy on that person’s life with the benefits being paid to the business to ensure continuity and to use as they see fit.

Contingent Liability

A contingent liability plan is funded by a life policy which will liquidate the personal guarantees given by a guarantor on behalf of the business in the event of premature death or permanent disability.”  – Description by Standard bank.

Employee Compensation Packages

Reward your employees with savings plans paid out every 5 years – this is done through a properly structured endowment plan. It is a great way to ensure employees can “earn” rewards for staying with their employers, assisting employees to save money, granting them a “bonus”, etc.

Email or come and see us without delay to get your business assurance in place

Talk to one of our amazing team members to discuss which products would work best for your needs and get tailor-made advice perfect for you!

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