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Business Insurance

Debt and cash-flow management

Debt and cash-flow management lye at the heart of financial planning and with proper preparation you can achieve your particular objectives. Through this process you will set up a personal budget and gain an understanding of how you should approach settling debt in relation to your other investments.

Business insurance is a financial solution that enables businesses to anticipate and find solutions to financial problems which may arise due to death, disability or retirement. Three participants of the business are identified : the owner\s, the business and the employees.

The death of a co-owner or partner causes a problem to the remaining owners or partners, family of the deceased and\or the dependants of the deceased. The family of the deceased wants to receive value for the deceased’s share while the remaining owners need to ensure that they have sufficient funds readily available to acquire the deceased’s share in the business.

If they are unable to buy the deceased’s share, the executor may have to transfer the interest in the business to the deceased’s heirs, which may force the surviving members to take in a business partner or co-owner whom they would not otherwise have considered.

Life insurance offers a solution to both parties. The owners of the business can enter into a buy-and-sell agreement, whereby the surviving owners agree to buy the deceased’s share in the event of death. The deceased’s executor is obliged to sell the share in the business to the surviving owners. Life insurance is used to fund this agreement.

Other products available to the entity are –

Suretyship protection [contingent liability]
his solution ensures that the business debts, for which the owner has signed surety in his personal capacity, are paid in the event of the owner’s death or disability.

Credit loan account protection
This solution ensures that the business is able to meet its obligation of paying a debt in the event of the death [or disability] of the owner, for funds initially invested in the business at start up.

Business overheads cover
This solution ensures that the business has funds to continue [and to maintain] payments on the running costs of the business, if the owner becomes disabled.

Keyperson cover
This solution ensures that the business is able to recover from any loss incurred as a result of the death or disability of a key employee or a director.

Debtor’s cover
This solution aims to protect businesses that provide credit to purchasers of their products.

Alternative finance repayment plan
The need is to structure a bank loan in an alternative manner that will offer business clients who are entrepreneurial by nature and are willing to take calculated risks, an opportunity to achieve other benefits for themselves.

Corporate investment
To finance future business expenses, in a structured and cost effective manner, by making use of any tax concessions that may be applicable.