Personal Risk Protection plan
Sometimes things don’t go to plan. Our view is that we would prefer to “hope for the best, plan for the worst”.
Protecting what you have is equally as important as growing your wealth. That’s why we strongly advocate having the best risk protection plan in place that you can afford.
Our detailed engagement process will help you assess the impacts of an injury, disablement or death to you or your loved ones. Our aim is to provide the right risk protection advice so the impacts to your family’s current and future lifestyle are minimised.
Akin to having the right foundations for wealth creation, a good risk protection plan helps ensure that all your best laid plans are not derailed.
In addition, not all insurance policies are created equal, each with differences in what they cover. We will provide quality advice on what policies and products are best suited to your individual needs.
We are experts in this field and we provide advice in a range of insurance cover including:
- Income protection / Salary continuance
- Trauma cover
- Term life insurance
- Total and Permanent Disability (TPD) insurance
Business Succession or Buy/Sell insurance
You’re a business owner that has worked hard and invested in your business. It is the main source of your income and your wealth and retirement plans are based on selling the business in the future. This is Plan A.
What happened if Plan A is derailed through sickness, injury, death or disablement? Do you have a Plan B?
If not, we can help. We will assess your business goals and conduct a risk management plan to help mitigate the risks and help you create a plan on how to preserve the value of the business and have a funding mechanism for an orderly exit from the business. This help the business continue and also protects you and your family’s retirement plans.
Despite risk management and continuity of a business being one of the major concerns with business owners, rarely do businesses have a business succession insurance plan in place. Failure to plan for business succession is a recipe for failure and you could be missing the opportunity to crystallise and protect your wealth.
We can help you formulate a logical risk succession plan in conjunction with your other professional advisers such as your solicitor and accountant. Each plays an important role in documenting the succession plan. Our role is to advise on an appropriate funding mechanism to mitigate the potential risk through personal insurances and to bring it all together for you.
It is one of the last issues that a business owner addresses, but it is usually the first issue that impacts their business and wealth.
Keyperson risk protection
Usually, the most valuable resource of any business is its people.
In your business, a key person may be anyone whose absence or loss from the business would have a significant negative impact. So, have you planned for the “what ifs”, namely what is the impact to the business if this individual cannot work due to injury, disablement or death? Loss of key staff can affect every aspect of your business – revenue, profit, goodwill and ultimately the value of your business.
We can provide advice and strategies on how to identify and value the keypersons within your business and how best to mitigate the majority of risks through a comprehensive life insurance plan.