Suite 8 / 260 Auburn Road, Hawthorn 3122
Phone: 03 9214 4100
Fax: 03 9818 6008
enquiries@trumpetfinancial.com.au
 
 
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  INSURANCE - BUSINESS
 

BUSINESS SUCCESSION – THE BENEFITS...

Buy/Sell Cover
Buy/Sell cover helps ensure Directors needs are met in the event of the involuntary departure of one of them (i.e. Death, TPD). 

The benefit of having an agreement and cover in place is in:

  • Serving the family of the deceased/disabled member as a guarantee they receive a lump sum for their share of the business without the need to negotiate with continuing Directors. 
  • Allowing the continuing Directors to get on with business rather than getting caught up in a negotiation with an Estate over the value of a share or running of the business.
  • the ongoing business Directors not having to unexpectedly (& at short notice) raise funds for a purchase of the deceased’s/disabled’s share.

Income Cover
Income cover provides up to 75% of your Gross Income package in the event of illness or Injury.

The benefit of having an agreement and cover in place is:

  • serving the disabled member as a guarantee they receive an ongoing income in the event of Temporary or permanent disability. 
  • The disabled partner not relying on the business for ongoing income and therefore placing strain on it.

Keyperson Cover
Keyperson Cover provides a revenue injection in the event of the involuntary departure of a Director or key employee (i.e. Death, TPD or Trauma).

The benefit of having an agreement and cover in place is in:

  • Providing the business a lump sum revenue injection for an amount which is the estimated lost revenue due to this key person’s absence. 
  • Allowing the continuing Directors to get on with business and focus on how they will replace/redistribute tasks of the key person and not having to worry how they will make up the lost revenue.

Debt reduction
Debt reduction is about clearing debt within a business in event of the involuntary departure of a Director (i.e. Death, TPD or Trauma).

The benefit of having an agreement and cover in place is in:

  • providing the business a lump sum to repay debt so a remaining partner is not lumped with debt
  • serving the deceased/disabled’s family with the knowledge that Directors guarantees can be released
Trumpet Financial Pty Ltd ABN 11 443 516 384 Corporate Authorised Representative (No 327756) of Aon Hewitt Financial Advice Limited AFSL 239183 ABN 13 091 225 642
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