Business Assurance

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Business Assurance is vital for anyone who runs their own business. It is risk and/or investment assurance taken out to protect a business from potentially dire financial consequences should someone who is essential to its operation die or become disabled.This person could be an owner of the business, a director or an employee, Thus, it is a broad term for products designed to cover a multitude of needs.

Business assurance can also be used to prevent a key employee from leaving to work for a competitor. In this instance, a policy is taken out that will mature in the future to the financial benefit of the employee.

The purpose of business assurance is to ensure that the business remains a going concern after an unplanned event and that an owner and his/her dependants are protected against financial hardship.

The risks associated to business assurance are common to most businesses and the life insurance that we use to deal with them are:

Key individual insurance

Buy and sell insurance

Contingent Liability insurance

If these policies are structured correctly, business insurance policies can qualify for substantial tax concessions!