Small to medium sized businesses often rely on a handful of key team members to bring in revenue and keep the business running.

So if you, or a key team member, became unable to work - could your business survive?

Business insurance gives you peace of mind knowing your business is financially protected in these type of situations. It’s also beneficial to have a range insurance products in place to cover different scenarios.

I can help you select the right balance of business-specific insurance to ensure you have the cover best suited for your business.

Here’s a short summary of the business insurance products we can discuss together:

Business Continuation - Could your business continue to operate if you, or an important partner, were unable to work? I can help you customise your business continuation cover by carefully selecting the right combination of policies for your business.

When creating a business continuation plan, we’ll firstly look at how your business will be looked after in the event of short term disability or illness, normally with a cover that provides monthly payments. Secondly we’ll explore options that will apply if the situation becomes long term. It can be useful to have cover that provides a lump sum of money to wind the business down or sell. Finally, we’ll review your personal income cover to keep the family finances on track if you are unable to work.

Business continuation plans can include a combination of Variable Monthly Income Cover, Key Person Cover, Debt Cover and Shareholder Protection, customised for your circumstances.

Key Person Cover - Much like business continuation, key person cover can pay for the loss of someone critical to your business due to illness or injury. This is especially beneficial for small businesses who rely on one or two people to bring in revenue.

Shareholder Protection - Are there two or more shareholders in your business? What if one suddenly became permanently unable to work? Shareholder protection provides you with a lump sum which can be used to buy out the previous shareholder’s estate if needed.

Debt Cover - The permanent loss of a key stakeholder can be especially harmful to a business which has borrowed money. Could your business continue paying its debts following a loss of revenue? Debt cover provides financial support so you can pay any outstanding amounts.

ACC - Did you know you can reduce the cost of your ACC levies? You can also use those savings to help fund personal income and mortgage protection. The fact is, ACC only covers you if you have an accident - if you get sick there is no cover. Having the right combination of personal insurance and ACC enables you to maximise cover for a reduced cost.

Choose a Combination of Personal and Business Cover

While business insurance is vital for the continuation of your business - it’s also important to make sure your personal finances are protected, which is separate to business cover.

I can help you select the right balance of personal insurance and business insurance cover to ensure you have the risk protection best suited to your situation.

“  Phil has always kept in touch to keep us up to date on new products and to let us know what has changed.

-Kiwimove Furniture Removals


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