Corporate Solutions

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• Key Person Funding Protection

• Personal Financial Planning Solutions for all levels of your work force

Key Person Funding Protection

 

Business Succession Planning is essential for most businesses.

 

Three common components addressed in business plans are business ownership, how debt will be dealt with and how your business will manage the death or serious illness of a key member. This article examines some of the planning and insurance solutions that may form your Business Succession Plan.

• Corporate Solutions

  • Key Person Insurance

  • Buy-Sell Agreements

  • Business Expenses Insurances

  • Guarantor Protection

 

 

 

 

Guarantor Protection

Hold on to your House!

 

Often business loans will include a personal guarantee by the business owners. More often than not, this guarantee is over the business owner’s home. Does this sound like you? Did you know that if a business owner dies or is incapacitated, the lender may call on that guarantee.

 

Guarantor protection - or debt reduction - insurance allows for the repayment of business debts guaranteed by a person who dies or suffers another insured event. By ensuring that all business owners who have made personal guarantees are adequately insured, you can reduce the chances of lenders laying claim on your home.

 

So with this protection in place, two potential disasters can be avoided:

1. Your family, and the families of your business partners, will keep their home if you or a partner dies.

2. The financial burden on your business is reduced as debts can be cleared and guarantors can be released from the bank’s security over their assets.

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