Business AND FARM Insurance

Debt Protection

Debt protection cover is essentially to clear any business or farm debt in the event of untimely death

Debt protection cover ensures all business or farm debts are cleared if the unexpected happens. This leaves the business as an unencumbered asset, which is more easily sold or managed by the estate or inheritors. This is particularly vital if any business loans have been personally guaranteed or personal assets have been used as security.
There are options to increase cover based on business growth, without having to provide any health evidence, hence making this plan future-proof.

At NZ SURE, we have access to New Zealand’s leading insurance companies with a variety of insurance benefits that are designed for businesses and their owners. We can help protect you and that overhanging debt in the event of unforeseen.

Call us to get your quote 0800 002 951 Or Fill out the Contact Form

Key Person Protection

The majority of kiwi businesses and farms are made of small to medium-sized businesses which have one or two key people who are integral to the running of the business.

A key person protection cover will pay a monthly benefit directly into the business in the event a key person is unable to work due to any illness or accident, and these normally are not offset with any other benefits like ACC. These funds can be used to pay for a replacement person or locum, to cover fixed costs and overheads, or to provide a cash injection to keep the business cash flow positive. In addition to the monthly benefit, one can choose to add a lump sum cover if the key person is totally and permanently disabled and unable to return to work.

At NZSURE, we WILL work closely with you and your business to identify where the risks are, who the key people are, their worth, and everything else that needs to be considered in regard to SETTING UP your key person insurance. A key person protection cover will pay a monthly benefit directly into the business in the event a key person is unable to work due to any illness or accident, and these normally are not offset with any other benefits like ACC. These funds can be used to pay for a replacement person or locum, to cover fixed costs and overheads, or to provide a cash injection to keep the business cash flow positive. In addition to the monthly benefit, one can choose to add a lump sum cover if the key person is totally and permanently disabled and unable to return to work.

At NZ SURE, we WILL work closely with you and your business to identify where the risks are, who the key people are, their worth, and everything else that needs to be considered in regard to SETTING UP your key person insurance.

Call us to get your quote 0800 002 951 Or Fill out the Contact Form

Shareholder Protection

Shareholder protection, which is also commonly known as buy/sell insurance, is designed for businesses or farms owned by multiple shareholders or partners to provide protection against the untimely death or permanent disability of one of the shareholders or partners.

In the event you or a fellow shareholder is lost to death or disablement, a shareholder agreement (duly drafted and executed by a solicitor), together with shareholder protection cover can provide certainty and minimize the impact on the business through the proceeds of an insurance claim.

More commonly, an agreement is made that on the death or permanent disablement of one shareholder, the remaining shareholder(s) will purchase the percentage of that individual’s shareholding from their estate or family with the proceeds of a shareholders’ protection insurance policy. In this way, the beneficiaries are appropriately compensated for the value of the shares held by this shareholder, which is normally determined when the agreement is set up but can also be updated over the period of time and the business can continue to be run by the remaining shareholder(s).

This eliminates the need to raise any capital needed by the remaining shareholders/partners to purchase the shares of the shareholder along with trying to determine the true value of the shares at a difficult and emotional time.
We will work with you and your business to help find the best possible financial protection by working in consultation with your accountant and solicitor and depending on the type, size, turnover and profitability of your business along with the number of shareholders, a value that best reflects your business can be set.
At NZ SURE, we pride ourselves on providing you with peace and mind, covering all bases as all you need to do is push our contact us button.

Call us to get your quote 0800 002 951 Or Fill out the Contact Form