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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

Expert Guidance for Your Business

As an Adviser 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 factual al discussion about protecting your business legacy.

Simon Croxton is an Adviser with Moore Simmons Pty Ltd.

ABN 47 646 019 543  AFSL No. 566193

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All of the material published on this web site is for information purposes only and does not constitute advice. This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, (with or without the assistance of a Financial Adviser) whether the factual information is appropriate for you.

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The Moore Simmons Privacy Policy which sets out the details of how we collect, use, disclose and secure personal information is available on our last page.

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Financial Services Guide

​​The Moore Simmons Financial Services Guide - Part 1 and Part 2 which outlines the services that Moore Simmons Pty Ltd offers you is available by contacting me. ​

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Moore Simmons Pty Ltd
147 Frome Street

Adelaide SA 5000
Phone: 0411 519 209

© Moore Simmons 2021. All Rights Reserved.

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