Business Overheads

Are you the main business driver? Could your business operate without you? This insurance benefit offers protection that in the event the insured person suffers an accident or illness and is unable to work, the business will be able to seek reimbursement for eligible expenses, while the person recovers. These expenses include: rent, utilities, wages for non-income generating employees, principal and interest payments for business loans, accounting fees, and many more.

Shareholder / Partnership Protection

This coverage pays a lump sum so that shareholder buy-sell agreements can be fulfilled. Have you considered what might happen to the control and future ownership of the business if one of the partners or shareholders should die or become seriously disabled? Do you want to be in control of who you are in business with? How important is it that your estate and dependents receive a fair price for your shares or business interest? Appropriate shareholder protection can create the cash required in the unexpected death or serious disablement of a partner or shareholder, to enable the purchase of their shares or business interest. This avoids using personal cash reserves, or the sales of personal assets, or a substantial loan at a time of uncertainty.

Key Person

Many New Zealand businesses rely on one or two people to run smoothly. These key people are your assets, and need to be insured accordingly. Key person insurance is coverage that will protect the company or business in the case of an untimely death, trauma or disability of a top salesperson, executive or business owner. Key person insurance provides peace of mind to business owners and shareholders alike knowing that the business can continue operations without major disruption in the event of the loss of a key person in their business.

Start Up Income Cover

This insurance coverage is tailored specifically for the newly self-employed. This offers a monthly benefit to the business in the event of disablement due to illness or accident. This is tailored for business owners operating less than three years who may still struggle to prove profitability.

In NZ.
In 2008, it was estimated that 1,880 business ceased operation partly due to an injury to the owner or a key staff member.
ACC, MAY 2008

Locum Cover

Locum cover, provides a monthly income to help keep your business going, should you be unable to work due to accident or illness. This cover can be used to reimburse the cost of employing a locum/replacement, while you are unable to work.

Business Debt Protection

This is a lump sum payment designed to fund business debt re-payment upon the Total Long Term Disability, Total and Permanent Disability, Terminal Illness or Death of any employee, owner or sole trader, whose death, terminal illness or total long term disability would trigger a requirement for the debt to be repaid.