Death does not cancel out a debt. Our debts live on long after us, with the onus of honouring them falling on the estate or guarantor. To address that, our solutions can be designed to effectively clear loan obligations upon death, freeing your family members or guarantors from the burden of responsibility.
Prudent business planning involves preparing for every business interruption scenario. Our solutions harness Universal Life Plans to ensure that the best contingencies are in place for your business.
In the event of the loss of a partner or key member of your business, Key-Man Insurance can be used to fund the search for a suitable replacement, ensuring the smooth continuation of your business.
In the wake of a business partner’s death, his or her shares are given to the spouse or family members who then become your business partners by default. To avoid the complications that can come with working with new business partners, a Buy-Sell Agreement can be established to buy over the share of the deceased partner, with an insurance plan helping to fund the purchase.
A Buy-Sell Agreement can be made with an interested buyer for the sale of the entire business posthumously. Our Universal Life Plans can help finance the transaction at the true value that the business is worth.
As a guarantor for loans that your business may take, a Universal Life Plan comes in useful in that the payout can be used as fees to find a replacement guarantor.