Buy Sell partnership insurance is an important element for business insurance. Many companies exist because of key people and figures, and this type of insurance is designed to help ensure that these companies can continue in the same way if one of these people are lost. If there is a loss of that person from the business through illness, accident, or departing the company, then the business can be protected through this Buy/Sell Partnership insurance being offered by Cover Plus to Brisbane companies. There can be a significant impact to not just revenue, but also the capital and financial interest of the business in the event of this type of loss. At Cover Plus, we are conscious of making sure that this type of insurance is tailored to meet the needs of our Brisbane clients, and that is is a lump sum protection, and can serve as a holistic protection, or even as a form of income protection depending on the type of cover best suited to that company.
The way this insurance works will depend upon the type of business, and the structure of its key people. This insurance is something which can be taken out by an individual, or on behalf of the business with the beneficiaries and conditions being something that will need to be agreed to through the creation of the insurance policy. Will need to have 2 parties involved – a solicitor and a financial adviser to be in place to make sure that the insurance is set up properly.
If you are looking for Brisbane Insurance and are interested in talking further about Buy/Sell Partnership Insurance, than get in contact with Cover Plus today by calling Craig Shanley on 07 3368 2412 Or fill out the contact form below and we will be in touch within 24 hours.