Business Owners: Protecting Your Legacy

As a business owner, you've invested more than money into your enterprise - you've invested years of effort, countless hours, and your entrepreneurial spirit. But have you protected that investment against the unexpected?

Understanding Business Risk

What happens to your business if you or a key partner suddenly can't work? Consider:

• Business loan repayments continue regardless

• Fixed costs like leases and wages don't stop

• Your family might inherit business debt instead of business value

• Banks often require protection for significant loans

• Business partnerships can unravel without proper succession planning

Real Business Protection in Action

One of my recent clients, a successful partnership with $42 million in business debt, faced this reality when their bank required key person protection. We structured comprehensive coverage ensuring:

• The business could continue operating if either partner was lost

• Families would receive fair value for their share

• The surviving partner could maintain control

• Bank requirements were fully satisfied

• Tax implications were optimally managed

Protection Strategies for Business Owners

Your business needs a robust protection strategy including:

Business Succession Planning

• Life Insurance to fund buy-sell agreements

• Clear valuation methods

• Documented succession plans

• Tax-effective ownership structures

Key Person Protection

• TPD Insurance for permanent disability

• Trauma Insurance for serious illness

• Protection for revenue and capital needs

• Bank requirement compliance

Business Expenses Protection

• Income Protection for personal income

• Coverage for fixed business costs

• Protection for staff wages

• Lease and loan payment security

Expert Guidance for Your Business

As a Certified Financial Planner with extensive experience in business protection, I'll help you:

• Assess your business risks and protection needs

• Structure policies tax-effectively

• Compare coverage across leading insurers

• Integrate with succession planning

• Document everything properly

Take Action Today

Don't leave your business exposed. Contact me on 0411 519 209 for a professional discussion about protecting your business legacy.