Business Protection

Business Protection

Most businesses borrow money at some stage in their life cycle to meet various needs.  This can be achieved by the use of re-financing loans, overdrafts for cash flow, as well as directors/business partners putting their own money into the business to help it expand.

Borrowing money brings with it additional risks and these risks should be reviewed in order to address the following issues:

  • Should a business owner or director die or suffer a major critical illness, how will the lender look at the serviceability of that debt;
  • Will lenders give business extra time to repay the debt or will they foreclose resulting in the loss of a family home or business;
  • Should a business partner or director die or suffer a major critical illness is there sufficient funds within the business to repay any business partner or director.

Goddard Perry can provide a comprehensive corporate business protection service and work through with you what is required to fulfil these needs to try to ease the strain on the business cash flow at a difficult time.

Planning & Consulting

  • Initial meeting to understand your business, how it works and its debt structure.
  • How the loss of a business partner or director could affect the serviceability of the debts.
  • Analysis of any existing arrangement including a comprehensive corporate factfind.
  • Advice and recommendation for your business protection needs and how that protection should be established, i.e. life of another or own life.
  • The correct use of business trusts if required.
  • A full market review.

Implementation

  • Assistance with completion of any application required, including financial and medical underwriting.
  • Assistance with arranging and reviewing any trust documentation if required.
  • Ensuring cover is in place and correct documentation is provided.

On-Going Service

  • Review of the company’s business protection needs to ensure that existing arrangements continue to be met.
  • If additional protection needs are identified, ensuring that this is addressed.
  • Assistance with any death or critical illness claim.

If you require more information or assistance regarding your Business Protection requirements please email us.

Goddard Perry Consulting

THROUGH PREPARATION COMES STRENGTH