Insurance and Services for Business Owners
As a business owner, you’ll need to consider lots of factors when considering what insurance options are suitable. Whether its Medical Insurance for you and your family or business succession planning, LIFE-TIME Financial Group can help you find the plan or strategy that’s right for you or your business.
LIFE-TIME automatically provide multi-company quotes, advice and recommendations supported by insurance research from three independent sources that can secure your family and your business should the worst happen.
Personal Insurance for Business Owners
If your family relies on your earning power, it makes sense to ensure your family’s income is protected should the worst happen. There are a number of insurances available:
Should you need an elective surgery that is not considered an emergency, you may need to wait for treatment and might be unable to work during that time. Private medical cover provides the funding to enable you to have private hospital treatment whenever you require more immediate access and a broader range of treatment options than are available to you through the public health system. This ensures your earning potention can be maintained
New Zealand statistics show that 1 in 3 people will be off work for longer than 6 months due to injury or illness during their working lives. Income Protection Insurance provides you with a regular income if you are unable to work as a result of injury or illness and helps to ensure that bills can be paid so that you can maintain your current standard of living.
In the event you die too soon or become disabled and are unable to work, how will this affect the financial well being of your family? Looking after those important to you is something we’d all like to do, and life insurance is a cost-effective way to do just that.
Consider also: If you have a business partner, what are the implications for you should they be lost from the business?
Trauma or Critical Illness cover is one of the life insurance industry’s best kept secrets. That’s because it is insurance for the living and pays cash so if the insured person suffers a serious illness or injury covered by the policy they can carry on with their life. Its main value is that it helps remove some of the main barriers to recovery – stress and not being able to afford the treatment you want, when and how you want it.
Business Assurance for Business Owners
Ensuring your business should the worst happen is one of the most important things a business owner can do and LIFE-TIME automatically provide multi-company quotes, advice and recommendations supported by research for all our business customers.
Buy-Sell Agreement Funding
Buy-Sell agreements are crucial for small to medium size companies because the death or disability of a business owner creates a significant financial burden on the business as well as the remaining partners. There must be funding in place which ensures the terms set out in the agreement are met, when the surviving partners or shareholders are called on to purchase the business interest. LIFE-TIME Financial Group can help your business identify the best funding options.
Key Person issues for Revenue Preservation
The objective of a key person arrangement is to enable a business to continue operating despite the death or disability of a key individual who works, or is otherwise involved, in the business. An insurance policy is often used to protect the business from any potential financial loss associated with the occurrence of such an event covering:
- Funding for Revenue Preservation
- Liabilities and Guarantees
What if a product launch is delayed, you lose your best customer, costs overrun or interest rates go up? These unexpected setbacks can be devastating for many businesses that operate on very thin margins. Having contingency funding in place can mean the difference between getting over a rough period and bankruptcy.
Business succession / Exit Strategy planning
Most businesses instinctively know that to grow the success of their business they need to retain and develop their people. Succession planning provides a structured and targeted approach to ensure that you have the right people, with the right skills, doing the right things at the right time.
CONTACT LIFE-TIME AND REQUEST A CALL BACK:
Contact us today to arrange a call-back to discuss your Insurance options or to arrange a research based LIFE-TIME Insurance Audit and review. Alternatively, you can complete the no-obligation Business Health Check and we can advise you further.