Business Life Insurance

We identify the risks & tailor a solution for your people

All businesses depend on key people

Working in conjunction with Steadfast Life, we take the time to identify the risks and tailor a solution for your business

All businesses rely on key people. Whether they’re owners, executives or specialist employees, these people provide the capital, generate the revenue, and ultimately create profit for the future.

In any business, particularly SME’s, unplanned events such as the sudden death, illness or disablement of key stakeholders, can severely impact the business financially.

Areas of Business Insurance include:

Keyperson Insurance

Keyperson Insurance is a critical component of any comprehensive business insurance plan. It is designed to protect against the financial consequences associated with unexpected death or disability of key personnel. Keyperson Insurance provides funds to replace lost revenue to keep a business financially stable and if need be, to fund replacing the key employee.

Buy-Sell Insurance (or Partnership Insurance)

Buy/Sell Insurance is a funding mechanism that provides funds to purchase equity from a departing co-owner as a result of death, permanent disability or major critical illness. A buy/sell agreement is a legal contract that enables remaining owners to quickly and efficiently acquire the departing owner’s share and continue running the business with minimal disruption. Having such an agreement, provides certainty at a time of potential major disruption.

Guarantor Protection Insurance

Business Loan Protection Insurance is a form of business insurance enabling a director/guarantor to be fully repaid upon the occurrence of an insured event such as death, trauma or total disability.

Business Expenses Insurance

Business Expenses Insurance is similar to Income Protection but tailored for small business owners to cover the ongoing costs of running a business. The policy pays a monthly benefit (for up to 2 years) to cover the business overheads such as rent, electricity and the salary of select employees, if a business owner suffers an illness or injury and is unable to work.