Financial Planning

1. For the family

Making sure that your family are provided for in the event of your death or if you’re unable to work through illness, might be a first priority. 

2. For Key Business People

Profits of a business are often linked directly to the contribution made by key people. Without them, if they become ill or even pass away, the business might suffer financially as well as having to deal emotionally. The loss of a key person is likely to result in loss of direction, loss of important contacts and put pressure on credit lines leading to an impact on the bottom line.

3. For Shareholders

Protecting against the impact of the death or illness of shareholders is often overlooked in the excitement of the setting up and lost in the running of a business. Whether you’re an external investor or running the business yourself, it’s critical to at least consider how your investment might be impacted by the loss of a key shareholder.

4. For Loans

Lending institutions may insist on covering key personnel as part of the credit extended. Making sure you get the right cover in place at the right price and ensuring the benefits, if they are paid, are right for your business.