FREECALL: 1800 819 719
Could Your Business Cope?
A key person is someone who provides your business with significant economic gain. It could be a managing director who has an expertise specific to the business, a salesperson who is responsible for providing a large portion of business revenue or someone with specialised knowledge of machinery or business systems. How would your business cope if such a person was lost due to death or serious illness?
A Key Person Protection Plan cannot prevent the loss of a key employee, but it can provide an injection of money to make it easier for the business to continue to operate as normally as possible during this difficult period.
For many business owners, a lot of their personal wealth is tied up in their business. Not having an exit strategy in place can create a stressful situation which can become even more problematic when there are two or more people involved in the ownership of the business.
Often, the disposal of a business interest after an owner's death or disability is not clearly known or legally specified between owners. This can lead to enormous problems for the departing owner and/or their families and also for the remaining business owners.
A lot of these problems can be either eliminated or reduced with a good Business Succession Plan, incorporating appropriate levels of insurance.
To protect your business against the loss of a key employee or to discuss your business succession plan call Joe Zerella on 1800 819 719 or email life@brecknock.com.au
