Insurance
Business Insurance
Business Succession Planning
Look after what you’ve built. Succeeding in any enterprise can be challenging enough, without having to worry about the unexpected consequences of illness or injury. We can help you plan now for a secure future. Owners and partners will exit the business at some stage. But, will this be a planned exit e.g. retirement or an unplanned exit such as a result of an accident, illness or premature death?
Business succession planning is about having the RIGHT amount of funds, from the RIGHT source, passed to the RIGHT party at the RIGHT time.
"We’re not just here to provide financial advice but to help you hold your dignity when you need it the most."
Business Debt Protection:
Business Debt Protection insurance assists the company in meeting its financial obligations regarding the servicing of debt following the loss of the key person.
Key Person Cover
Having a key person like a director, shareholder or main revenue generator pass away, fall seriously ill, or be seriously injured can have a devastating effect on a business.
Key Person Cover will pay a lump sum to minimize the financial impact on the
business. This essential form of protection could be used for:
Share Holder protection: In the event of death or total permanent disablement of a business partner, Partnership Cover provides a lump sum payment to allow the other business partner(s) to purchase the deceased or disabled partners shares. This can protect business owners and their estates from issues such as: A partner becoming disabled and unable to work, but still receiving profits without doing any work.
New owners entering the business in accordance with the departed member’s will(for example a spouse or child). These people may not have the necessary skills or may on-sell the business to another person.
Both situations can cause pressure and stress on the business relationship, therefore shareholder protection ensures an orderly transfer.
Tailored ACC Cover for Self-Employed People and Non-PAYE Shareholder-Employees
ACC is an expensive type of coverage when compared with private insurance. There are some gaps with regard to illness and ACC and we gave some suggestions for plugging those. The same is true for the self-employed. Moving onto ACC Cover Plus Extra is the first step to making things easier.
Something to think about:
Who are your key people?
What is their value to the business in terms of revenue and costs?
Could you quickly replace the revenue they generate?
Would your business remain solvent?
Could the remaining staff take on the extra workload?
Personal Insurance
Types of personal insurance. There are different types of insurance options available, to cover all sorts of life events. You can choose the one that’s relevant and important to you. They all provide financial flexibility so you can focus on recovery. Your insurance will work above and beyond what New Zealand’s public systems can provide to look after you when, where and how you need it.
Life insurance
We may like to think “it will never happen to us” but the reality is that life is unpredictable. Would your family cope with paying the monthly bills without your salary? Would your business survive without your expertise?
It’s important to prepare for the worst so that if anything happens to you, you don’t leave behind struggles and adversities for your family.
So, have you made plans to ensure that your family or business can survive without you?
Life cover protects the lifestyle and future of your family and loved ones if you die. Life Cover is designed to pay a lump sum if you die prematurely. It is essential for those with family, business or other financial commitments.
What do you get?
TERMINAL ILLNESS
CHILDREN’S FUNERAL BENEFIT
SPECIAL EVENTS
WORLDWIDE COVER
BEREAVEMENT SUPPORT
OPTIONAL FAMILY PROTECTION
Eligibility Entry Ages: 10 to 70 years
Term of cover :Renewable each year with no age limit.
Mortgage Protection
Do you already have an existing home loan? Or are you planning to apply for one soon? If you are, then take a few seconds to ask yourself this important question.
Q. Would you have enough money in the reserve to meet your home loan repayment if serious illness or disability stopped you from working, either temporarily or permanently?
If you answered “NO”, then you should seriously consider talking to GMIL about taking out a free hold Mortgage Protection Plan.
Trauma Cover
Trauma cover is an option where you receive a one-off payment, and then your cover ends unless you have selected the option to reinstate at the time you take out your policy. Severity based trauma covers a wider range of conditions and the payment amount is linked to the severity of the diagnosis, allowing you to make multiple claims.
Total Permanent Disability
This cover is paid out in a lump sum if you are totally and permanently disabled and unlikely to ever return to work again. There are two types of cover: ‘Any Occupation’ and ‘Own Occupation’. As with Income Protection cover, it is important to get some advice about which product is best for your circumstances. This cover enables you to cover the costs associated with becoming totally disabled.
Good reasons to have TPD cover
THE UNEXPECTED
PAY OFF YOUR MORTGAGE
MEDICAL EXPENSES
MAINTAINING YOUR LIFESTYLE
Davies Financial and Auturial Limited
Income Protection
What is income protection insurance?
Disability income protection provides you with a monthly payment if you are unable to work due to illness or injury.
If you face an illness or injury that stops you from working, this insurance provides regular monthly payments to cover your ongoing financial commitments like household bills and mortgage or rent payments.
Why do I need it?
Your ability to earn is your biggest asset. If an illness or injury prevents you from working, you’ll want to know your finances and family are taken care of so you can focus on recovery and getting back to work.
Health Insurance
Private healthWhat is health insurance? Having good health is invaluable. Health insurance takes care of your medical bills and provides you with faster access to medical care that suits your needs.
Why do I need it? Our public health system and ACC do a great job of supporting people who require urgent medical attention. However, relying on the public system for conditions that are non-urgent or non-accidental can result in long waiting lists and delayed treatment. Health insurance removes the worry around unexpected medical bills so you can focus on getting the right treatment and start your recovery sooner.
An appropriate health insurance policy, one that also adequately covers the costs of treatments not funded by the public Health System / PHARMAC, is essential for protecting wealth.
This is especially the case in retirement, when poor health becomes even more likely, and the ability to go back to work to earn enough to recover financially is probably not possible. All clients are healthy before they get sick, so ‘being healthy’ or ‘leading a healthy lifestyle ‘is no reason not to have health insurance! If premium cost affordability, real or perceived, is the barrier, there are ways of significantly reducing some health insurance premiums by removing options and selecting higher access. With the right advice and policy structure, it is affordable even in old age.