Business Insurance

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THIS COVER IS NEEDED IF THE SUDDEN LOSS, THROUGH DISABILITY, OF A KEY EXECUTIVE WOULD HAVE A SIGNIFICANT NEGATIVE EFFECT ON THE COMPANY’S OPERATIONS.

The company is the beneficiary of the plan and pays the insurance policy premiums to maintain the legacy created by the executive for the company.

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IF YOU ARE A SHAREHOLDER, PARTNER OR DIRECTOR IN A PRIVATELY OWNED COMPANY, A BUY AND SELL AGREEMENT IS ESSENTIAL TO PROTECT YOUR LEGACY.

Under this agreement, your partners undertake to buy your shares from you or your estate once the policy has paid out the benefit to your business partners. Such an arrangement has several important benefits:

  • Surviving partners do not have to risk taking on the wrong type of partner or, even worse, a potentially hostile new partner.
  • The proper value of the shares as at your death or disability would be paid out, provided that the cover matches the shares’ true value.
  • All remaining partners would increase their ownership pro-rata to their percentage of your life and disability cover in terms of the Agreement.
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THIS TYPE OF COVER PROTECTS YOUR LEGACY AGAINST LIABILITIES THAT COULD, BUT NOT NECCESARILY WILL, MANIFEST IN YOUR LIFETIME OR THEREAFTER.

A typical example would be a loan from your company in your capacity as a shareholder or director, that has not been repaid at the time a disability stops you from working or when you pass on. If no insurance of this type is in place, your estate might have to use its own wealth, borrow money or sell assets to repay the loan to the company.

You may also want to use insurance to leave a legacy for philanthropic endeavors – an insurance pay-out could be used to fund a contribution to your favorite charity or good cause.

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+ Key Man Insurance
i-mortgage-key_man-512x307
THIS COVER IS NEEDED IF THE SUDDEN LOSS, THROUGH DISABILITY, OF A KEY EXECUTIVE WOULD HAVE A SIGNIFICANT NEGATIVE EFFECT ON THE COMPANY’S OPERATIONS.

The company is the beneficiary of the plan and pays the insurance policy premiums to maintain the legacy created by the executive for the company.

i-mortgage-contact-us_263x236

You need something more?

+ Buy and Sell Agreement
i-mortgage-buy-sell-business-people_512x307
IF YOU ARE A SHAREHOLDER, PARTNER OR DIRECTOR IN A PRIVATELY OWNED COMPANY, A BUY AND SELL AGREEMENT IS ESSENTIAL TO PROTECT YOUR LEGACY.

Under this agreement, your partners undertake to buy your shares from you or your estate once the policy has paid out the benefit to your business partners. Such an arrangement has several important benefits:

  • Surviving partners do not have to risk taking on the wrong type of partner or, even worse, a potentially hostile new partner.
  • The proper value of the shares as at your death or disability would be paid out, provided that the cover matches the shares’ true value.
  • All remaining partners would increase their ownership pro-rata to their percentage of your life and disability cover in terms of the Agreement.
i-mortgage-contact-us_263x236

You need something more?

+ Contingent Liability
i-mortgage-contingent-liability_512x307
THIS TYPE OF COVER PROTECTS YOUR LEGACY AGAINST LIABILITIES THAT COULD, BUT NOT NECCESARILY WILL, MANIFEST IN YOUR LIFETIME OR THEREAFTER.

A typical example would be a loan from your company in your capacity as a shareholder or director, that has not been repaid at the time a disability stops you from working or when you pass on. If no insurance of this type is in place, your estate might have to use its own wealth, borrow money or sell assets to repay the loan to the company.

You may also want to use insurance to leave a legacy for philanthropic endeavors – an insurance pay-out could be used to fund a contribution to your favorite charity or good cause.

i-mortgage-contact-us_263x236

You need something more?