BUSINESS
INSURANCE
Wright Financial Solutions is a family business. Our advisers offer expertise in tailoring a business solution that is designed to protect your business, your family and employees from unforeseen financial risks. As amazing as owning your own business can be, being the boss does comes with major responsibilities which includes the financial security of your business from damages, such as property loss, illness, disability, or even death.
Whether you are new to business or are now considering succession planning, it is important to identify today's and tomorrow’s potential risks so to ensure a prosperous future. Take the pain and complexity out of your business risks in meeting with the Wright Financial Team that are well versed in products of Group Health, Shareholders Agreements, Buy/Sell Agreements, Key Person Cover, Business Overhead Cover, ACC Levies and more.
ACC Restructure can save you thousands and only applies to the self-employed who do NOT pay themselves a PAYE wage or salary. We work in conjunction with ACC to get the best and most satisfactory outcome for you. You and your situation are unique, so we look at options and structures that ultimately save you money because we evaluate ACC cover in conjunction with Income Disability Cover which can provide greater benefits over your insurance portfolio.
Shareholder and Buy/Sell Agreements typically go together with the ShareHolder's Agreement, being that of regulating how the company is operated and accompanying this the Buy/Sell Agreement, acting as "premarital agreement" to protect everyone's interests in circumstances of retirement, divorce or even death. Without such documentation, these can be very real risks to your business and as part of our financial services Wright Financial will look at appropriate options, suited to your individual circumstances.
Group Health Insurance:
Health insurance provided under a group scheme by employers offers employees premiums (under a subsidised scheme), or employees pay their own premiums themselves. Either way, joining a Group Scheme through your employer is usually more affordable than joining on your own. You may be able to add family members and you may get some additional benefits.
Disability Income Protection:
Disability Income Protection groups Loss of Earnings, Key Person and Income Protection paying you a monthly sum should you be unable to work due to illness or injury. You can decide how much cover you need up to a percentage of your maximum gross income with each product offering subtle advantages of i.e. tax benefits.
Your business could suffer financial loss if a Key Person is disabled through illness or injury. Cash flow is affected twice in lost revenue generated by that person and expenditure required to replace them. Businesses large and small are susceptible to this risk hence its important to have the correct protection in place.
New To Business Income Protection:
New to Business Income Protection is another form of Disability Income Protection, specifically tailored and designed for a new Start-Up business who have been trading for less than 3 years with a primary benefit being that of not requiring proof of income.
New to Business Income Protection should be your first line of defence against financial loss when starting a new business because ACC will not cover you in case of disease such as cancer. Most businesses don't register with ACC until their second year of trading making any and all ACC benefits, should there be entitlement; unknown.
Rural Funding Insurance:
The purpose of Rural Funding insurance is to provide cover that includes protecting your livelihood, the family home, herd ownership goals and your farm succession plans. This cover is designed to shield you from financial burden allowing your farm to continue running should you suffer illness or injury.
Business Funding Insurance:
To be entitled for Business Funding Cover your business must be trading for more than 3 years. Directors and Key employees can be covered on suffering an illness or injury which results in a limited working capacity. The benefit entitlement of Funding Insurance can add to the cash flow of the business which works to offset revenue loss in such unfortunate circumstances.
Business Funding Insurance is not just for business owners. You can cover key personnel such as technical experts or sales people that are integral to making your business run or generating revenue. The design and purpose of this business insurance policy helps safeguard your business from depleted revenue.
Business Trauma Cover:
A critical illness can affect you and your family, but if you own a business, it could put your company in jeopardy. Business Trauma Cover can provide you with a lump sum payment to help keep your business afloat during times of stress or unforeseen health complications.
Total Permanent Disablement (TPD):
Total Permanent Disablement (TPD) cover can provide options for your business with a lump sum payment to help cover the finances you need to keep the business operating. Where a business owner, or Key Person becomes totally and permanently disabled through either illness or accident, you'll have the necessary funds either to buy that person out and/or replace them.
ACC Restructure
ACC Restructure can save you thousands. We work in conjunction with ACC to get the best and most satisfactory outcome for you. You and your situation are unique, so we look at options and structures that best suit your needs. ACC Restructure only applies to the self-employed who do NOT pay themselves a wage or salary.