Business Ownership Protection Insurance in NZ

Business Ownership / Share Purchase Protection Insurance in NZ

As a business owner, have you ever thought of the following:

- Could your business continue if one of your partners were to die, suffer a critical illness or be disabled and unable to work?

- Could you work with a new, possibly unknown person ( spouse, new owner ) if they inherited a shareholding? 

- Would they want a say in the running of the business?

- Do you and your partners/fellow shareholders have the funds to buyout your partner (or their estate)?

If you want to address these questions, then the solution is to have a 'buy-sell' agreement to protect your shareholding and ownership in the business. A buy-sell agreement should be set up in consultation with your solicitor.

A buy-sell agreement involves the business owners entering into a written agreement,setting out what would be done with their business interests should they die, become disabled,suffer a traumatic illness, resign or retire.

There are two important parts to a buy-sell agreement:

- The needs of the business are established and an effective plan is put in place. The plan will set out the guidelines for the transfer of ownership interests in the business in the event of certain contingencies.

- The plan is implemented with the appropriate funding. Once a buy-sell agreement is setup, insurance policies (or savings) are used to fund any obligations.

Do speak or write to us determine the appropriate level of cover for your business needs.

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