Buy & Sell
What Is Buy and Sell insurance ?
Buy-and-sell insurance policies can be a valuable tool for business owners who want to protect their interests and ensure the continued success of their business. If you are a business owner, you should consider talking to one of our financial advisors about whether or not a buy-and-sell insurance policy is right for you
Benefits of having a buy-and-sell insurance policy
- Provides financial security for the surviving business owners in the event of the death or disability of a co-owner.
- Helps to ensure the continued operation of the business.
- Can help to prevent disputes among the surviving business owners.
- Can provide tax benefits.
How a buy-and-sell insurance policy might work
- Two business partners, John and Mary, each take out a R1 million life insurance policy on the other's life.
- The policy is paid for by monthly premiums that are deducted from John and Mary's salaries.
- In the event of John's death, the proceeds from his life insurance policy (R1 million) are used by Mary to buy out John’s interest in the business.
- Mary now owns 100% of the business and can continue to operate it without interruption.
This Cover refers to a policy that a company takes out on the life of a director or an employee that stands as a sort of guarantee for any debts that the business might take on.
Our medical aid plans cover all your approved chronic medication, certain health checks, and emergency visits.