KEYMAN Insurance

 

Protection your business and your most valuable Employee

Some businesses are successful because of one or two “key people” in the business, and the loss of such persons can be financially devastating to the business.

There is nothing wrong with a company owning a life policy with all the trimmings, TPD and Trauma on a Key Person, with the Company being the “owner” of the policy.

However, there may be different taxation consequences regarding premiums and the taxation of policy proceeds, which we need to discuss.

LIFE INSURANCE

In the event your key employee dies, nominate the Lump Sum payment to be paid to the policy owner to protect against the financial loss of the key employee.

Generally the amount of cover is calculated to pay out your debts and provide your remaining family an ongoing income now and into retirement.
$

Total and Permanent Disablement (TPD):

That in the event your key employee is disabled, to the extent, that they will most likely be unable to ever work again in their occupation or in any occupation, a lump sum payment is to be paid to the policy owner to protect against the financial loss of the key employee.

Generally the amount of cover is calculated to pay out all your debts and provide you a lump sum payment to cover your ongoing expenses now and into retirement.
$

TRAUMA INSURANCE:

Is designed to protect your business from the financial impact of illnesses to your key employee, such as cancer, heart attack, stroke, and others, by providing a lump sum payment to the policy owner to protect against the temporary or permanent financial loss of the key employee.

Generally the amount of cover is calculated to payout your Home loan and contributes towards your medical expenses.
$
If YES, state the 'Life Company'
If YES, state the 'Life Company'
If YES, state the 'Life Company'
 

Michael Lobodarz, Authorised Representative (no. 256607), Director of BDM Financial Services Pty Ltd ABN 53 115 925 141, Corporate Authorised

Representative (no. 319619) of, The FinancialLink Group Pty Ltd., ABN 12 055 622 967 Australian Financial Services Licensee (no. 240938)