Business Insurance

Key People. Your biggest business assets.

Its true, key people are your biggest business assets. They are your highly skilled professionals/trades people, profit generating sales people or connected and visionary directors and business owners. Most likely YOU are all of the above in your business. Loose a key person or yourself to a life or health issue and you risk entering an avoidable business storm.

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Call us for free advice on your individual business risk management.

STARTUP INCOME PROTECTION

If I get sick or injured this business is over before it’s started!

Starting a new business is risky enough let alone having a health issue stop you before you have even started. Start Up Income Protection gives newly self-employed the certainty of a monthly income in the event of disablement due to illness or accident. This allows you time to recover and keep your new business going for a maximum of 2 years.

Start Up Income Protection can provide:

  • Income for up to 2 years.
  • Business Rent.
  • Business Expenses.
  • Options to hire a replacement.
  • Time to recover.

In 2008, it was estimated that 1,880 business ceased operation partly due to an injury to the owner or a key staff member.

ACC, MAY 2008.

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Take the risk out of start-up.

SHAREHOLDER / PARTNERSHIP PROTECTION

If my business partner dies, I'm now in business with his wife?

When a business partner dies or is permanently disabled the surviving partners need to raise the funds to purchase the deceased or disabled partners shares that are now owned by the estate (deceased partners husband or wife).

There are three options to raise these funds:

1. Sell something (personal or business assets).

2. Borrow from the bank (this may not be available now or wanted).

3. Life Insurance (the simple and cost-effective funding vehicle).

Insurance is the simple, cost effective vehicle to provide cashflow, control and certainty that the right amount of funds get to the right people at the right time. We organise the insurance cover and work with your accountant and lawyer to get business valuations, buy sell and shareholder agreements to reflect your Partnership Protection.

Shareholder-Partnership-Protection

“We don’t need Shareholder protection” Yeah Right.

KEY PERSON COVER

Losing our profit generating employees is our biggest business risk.

Key people are your biggest business assets and need to be insured accordingly. Key person insurance will protect the business in the case of an untimely death, trauma or disability of a top salesperson, technical expert, executive or business owner. Key person insurance provides peace of mind to business owners and shareholders alike knowing that the business can continue operations without major disruption in the event of the loss of a key person in their business.

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Good advice is the key.

BUSINESS CONTINUITY

How will we pay for a 2 year commercial lease?

Are you the main business driver? Could your business operate without you? This insurance benefit offers protection that in the event the insured person suffers an accident or illness and is unable to work, the business will be able to seek reimbursement for eligible expenses, while the person recovers. These expenses include: rent, utilities, wages for non-income generating employees, principal and interest payments for business loans, accounting fees, and many more.

Business Continuity can provide:

  • Certainty that fixed costs will be paid.
  • Cashflow to fund fixed costs.
  • Control of business overheads.
Business-Overheads

Get prepared with Parable Financial.

LOCUM COVER

Protect your Professionals

Locum cover, provides a monthly income to help keep your business going, should you be unable to work due to accident or illness. This cover can be used to reimburse the cost of employing a locum/replacement, while you are unable to work.

Locum Cover can provide:

  • Funds to hire a replacement.
  • Not impact on the business bottom line.
  • Certainty.
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Have a plan B.

GROUP SCHEMES

Attract and Retain you Key People

Group insurance is for employers who want to offer extra value added benefits as part of the employee's remuneration package. Often this will help attract and retain employees. Group Insurance offers a significant price advantage over retail or direct insurance. This makes it more cost effective for the employer. A fully subsidised Group insurance scheme enables a business to provide valuable benefits and create tremendous goodwill with employees.

Group Schemes can provide:

  • High-value retention incentive for Key People.
  • Excellent team and business productivity.
  • Cost effective alternative remuneration.
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Attract and retain your key people.

ACC VS PRIVATE INSURANCE

Time for an ACC Audit?

ACC only covers you for accidents and not for illness. As such ACC protection alone may not be a sufficient enough safety net for you. One way we can reduce your ACC levy is to reduce your entitlement from ACC. This enables us to lower your levy, we can then use the savings to implement more comprehensive cover that will be there in the event of either accident or illness. Often the amount you can save on your ACC levy is greater than the amount you pay in insurance premiums – meaning you save money.

An audit on your ACC con provide:

  • Full cover for sickness and illness as well as accidents.
  • Premium savings.
  • Higher productivity and profitability with less time off work.
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Call us to look at the options.