Protect What Matters Most
Like everyone you need to protect yourself and your family against the financial impact of serious illness or death. However, as a business owner your protection needs are different. Your business will provide some financial security, however you probably are not entitled to employee benefits. In addition, the future earnings of the business is dependant on others.
As a business owner you need to consider what would happen to your share of the business if you died prematurely and the financial impact that could have on your family. You also need to consider what would happen to the business if a co-owner died prematurely.
What would happen to your family if you died prematurely?
- Would they take over your share of the business?
- Would the remaining shareholders have the funds needed to buy your share back from your family?
- Has this plan been formalised?
What would happen to your business if a co-owner died prematurely?
- Would you maintain control of the business?
- Do you have the funds to buy back their share of the business from their family?
- Has this plan been formalised?
Life Choice gives you real peace of mind
Life Choice Assets is New Ireland’s business protection plan. It’s second to none in terms of flexibility and value for money. Your plan can be used to:
- Provide the funds needed to buy out a partner's share of the business.
- Ensure your family gets a fair price.
- Ensure a business partner retains ownership and control.
- Avoid the need for personal loans to be taken out.
- Provide a formal plan of what should happen.
You can't predict the future but you can plan for it
While we all hope and often believe it won't happen to us, the reality is that business owners and their families throughout Ireland are affected by these events each year. In 2012 alone, New Ireland paid out over €94 million to customers impacted by serious illness and unexpected death. Click here to view a summary of claims paid out in 2012.
With Life Choice Assets you can get comprehensive business protection from just €1.08 a day.*
For a further look at the benefits of having a protection plan in place read our , cover or Business Protection case studies. For a more detailed look at the cover available read our Life Choice brochure. Alternatively you can contact a Financial Advisor.
*Based on a single life, non-smoker, aged 40 next birthday, for Convertible Life cover of €250,000 for a term of 20 years, accepted at standard rates. Where relevant, life assurance tax applies. Premiums are subject to a Government levy (currently 1%).
Terms and conditions apply. Benefits are subject to underwriting and acceptance by New Ireland Assurance Company plc. It is important to note that certain restrictions, conditions and exclusions apply.