Commercial insurance

Have you and your business partners thought seriously about what would happen if a key person, director or shareholder couldn’t be involved in your business for a sustained period of time, maybe ever again?

Most businesses have contingency plans but more often than not these plans are undone by unforeseen occurrences.

That's where a good insurance plan comes in - and having the right adviser is key to having the right insurance plan.

There are four key principles to protecting your business properly.

• Debt cover – what would happen to the debt in your company if a key person or people became incapacitated? If your revenue drops, could the business sustain the debt repayments? Or could it be the end of your business?
• Key person and revenue protection – again, if a key person is out of action, could you afford to hire a replacement in the short term?
• Shareholder protection – if one of your shareholders died or could no longer be involved in the business, what is the succeeding shareholders' plan to buy them out? Insurance is by far the most cost effective way to do this - around 80-90% cheaper than borrowing to pay out the departing shareholders' estate.
• ACC structuring – whether we like it or not, ACC happens to be the default insurer for anyone who is self-employed.  By reviewing your ACC levies, you can make sure your insurance budget is being spent wisely. This is a key part of what we do for you at Advice 4 Life to ensure a holistic approach to your insurance needs.

Call us today for a hassle free catch up on 0508 44 00 44 or email enquiries@advice4life.co.nz