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Business Life Insurance

We’ll help your business prepare for the unexpected

Most businesses are carrying significant financial risk should the unexpected happen.

The big questions you have to ask yourself are:

‘Would your business be able to buy a departing owner’s share of the business if they died or suffered a serious illness or injury?’

And:

‘Would your business be able to cover the loss of revenue and goodwill, and re-pay the debts of the business, if an owner or other key person died or suffered a serious illness or injury?’

If your answer to these questions is no, you need to consider transferring that financial risk to a life insurance company.

Business risk insurance is designed to protect your business in the event that you or one of your partners or other key people should die or suffer a severe incapacity

There’s an adage that says most of a business’ assets walk out the door at the end of every working day. But what happens if for some unexpected reason one of the key assets can’t come back the next day?

What happens to the business and its ability to operate?

That’s why every business, no matter how small or large, needs a business risk insurance plan.

You can’t see into the future... but you can take financial care of it

Business risk insurance planning is the process of arranging your business affairs in advance to ensure there is no unnecessary deterioration or loss of continuity in your business should it lose you or one of the other owners or other key people through illness, injury or death.

It should also give the continuing owners the ability to buy the interests of the deceased or disabled owner, and ensure that the departing owner or their estate will be fairly compensated for giving up their rights to the business. In this way, a business risk insurance plan provides all owners and their spouses and families with financial certainty should the unforeseen occur.

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Important Information

Financial advice referred to on this site is provided by Australian Unity Personal Financial Services Ltd (‘AUPFS’) ABN 26 098 725 145, of 114 Albert Road, South Melbourne, VIC 3205, AFSL & Australian Credit Licence 234459. AUPFS is a wholly owned subsidiary of Australian Unity Limited. Any advice on this site is general advice only and does not take into account the objectives, financial situation or needs of any particular person. It does not represent legal, tax, or personal advice and should not be relied on as such. You should obtain financial advice relevant to your circumstances before making any decisions. AUPFS is a registered tax (financial) adviser and any reference to tax advice contained in this material is incidental to the general financial advice it may contain. You should seek specialist advice from a tax professional to confirm the impact of this advice on your overall tax position. Information on this site is intended for Australian residents only and any access to this material via the internet is subject to the Terms and Conditions of Use of our website and our Privacy Policy. Please refer to our Financial Services Guide or Credit Guide. 

Nothing on this site represents an offer or solicitation by AUPFS in relation to securities or investments in any jurisdiction. Where a particular financial product is mentioned, you should consider the Product Disclosure Statement before making any decisions in relation to the product and Australian Unity makes no guarantees regarding future performance or in relation to any particular outcome. Whilst every care has been taken in the preparation of this information, it may not remain current after the date on which it is published and AUPFS and its related bodies corporate make no representation as to its accuracy or completeness.

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