Murphy's Law: What Can Go Wrong, Will
Thanks to Comminsure for access to their Murphy’s Law videos.
There are a host of strategic applications for your keyperson life insurance. Click on the links below to gain a greater understanding of how they work.
Keyperson Capital insurance is an asset protection for your business maintaining capital value and stability in the event of death, disability or critical illness of a key person within the business. It provides sufficient cash for the business to preserve it’s assets by repaying or reducing business debts.
Does your business have a formal buy/sell agreement covering succession plans for your business in the event one of the partners’ death, disability or critical illness? A Partnership Protection strategy ensures the exiting owner receives true business value after tax.
Business expense insurance allows you to insure up to 100% of allowable business expenses which your business would incur if you are suddenly unable to work. Commonly, this will be taken out by self-employed or small business operators so as to ensure that they have a business to return to.
Estate equalisation strategies are common where families need to split their assets evenly amongst the next of kin. Life insurance offers surety that the estate will have sufficient money to spread the wealth evenly amongst your family members, particularly where there may be a large asset being left to a member (eg. a farm left to a son or daughter).