Sandton Key Man Insurance
Key Person Insurance

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Sandton Key Man Insurance/Key Person Insurarance/Brokers Legal & Law CC
What happens when your business Key Person dies, becomes disabled or so sick that they are no longer any use to the company?

Most of the time this means the end of the company, as without his vision, expertise and knowledge there is just no business left. The result are huge losses for everyone involved.

Example: I went into business with an ex-professor who found a way to mark music with sounds below what humans can hear – he was the man! This had a great of applications in monitoring both advert content and artist royalties. Unfortunately for me the professor died and I did not have the know-how to update and fix minor bugs in his system, so I had to write off all the time and money I had invested in the project.

There was a solution for this problem, if only I had made use of it...

Do your company already have Keyman Insurance - let me save you money - get a new quote today!

It is called Key Man or Key Person insurance and it is a life insurance policy that is taken out on the Key Man to be paid to whoever will have losses as a result of his untimely death, disability or dreaded diseases that may befall this Key Man.

Do your company have Keyman Insurance - let me save you money
- get a new quote today!


Let us save you money - let us quote for you on your existing key man (or business) insurance.

So what is needed to qualify to be able to get this Key Man cover?

        You have to show that there will be a loss due to this person's absence
        You have to show how much this loss will be
        This potential loss will have to be verified
        This Key Person will have to be under written
         – life insurance on Key Man

        A business plan will be needed for a start-up company


Let us save you money - let us quote for you on your existing key man insurance.

Then there is the question of cost?
With life insurance there are costs involved in the insurance taken out on the Key Person/Key Man.

Life insurance is hedging your bets; in this case your risk. With all forms of hedging the basis is that you are willing to give up some of your profit in the knowledge that you will never be left with nothing. In this scenario you are willing to pay the insurance premiums on the Key Man or Key Person in the knowledge that if he or she dies, becomes disabled or contracts or develops a disabitating sickness.


You will not be left with nothing.In the payment of the premiums you have two options.You can pay the premiums with after taxed money and then if there is a claim the money you receive will be tax free. Or you can pay the premiums and deduct it from tax, but then if there is a claim you will have to pay tax on it as if it is an income to you.This normally has a lot to do with the tax position your company finds itself in, what tax bracket your company is in, etc.

Conclusion

As you can see the problem of the untimely demise or disability or serious sickness of your Key Man can have devistating consequences for your business. If you have not made the nesasary arrangements and do not have the right strategy in place it could cost you your business. But if you put Key Man insurance in place you will always get paid for your work.If you have any further quistions or if you would like to find out how much it will cost to get your Key Man insured, do not hesitate to call or email me.

Sandton Key Man Insurance
Sandton Keyman Insurance
Sandton Key Person Insurance
[email protected]
Deon Marais 074 141 6606
Every business has at least one key man or key person, without this man/woman there will be no business, and if for whatever reason this man should fall away this business will falter and maybe even close down. This is why you need key man insurance or key person insurance.

This is especially true in the startup of the business, as time goes by this key man or key person may change as the business expand and grow, for management this is a risk that should be constantly managed!

*  Who is your key man or key person?
*  For how long do you think will he be your key man or key person?
*  Who will most likely be your next key man or key person?
*  Is it possible to replace this key man or key person?
*  What will it cost to replace this key man or key person?
*  How big a financial loss will it be if the key man or key person is gone?

This is what key man insurance or key person insurance is for - the loss you will incur if the key man dies or get disabled.

Give me a call today - so we can discuss what is needed to insure a seamless plan of action if your key man dies or gets disabled, do not wait too long as this is a real risk that could cost you a lot of potential profit.

Do your company have Keyman Insurance - let me save you money - get a new quote today!

Let us save you money - let us quote for you on your existing key man (or business) insurance.


If your business do not have business insurance or key person insurance let us help you to discover what is the right cover for your company.

Sandton Key Man Insurance
Sandton Keyman Insurance
Sandton Key Person Insurance

[email protected]
Deon Marais 074 141 6606


Risks that should be considered when choosing a business partner.

  • What does he bring to the table?
  • What do you have to pay to bring him to the table?
  • What is he worth? The real potential value.
  • What is his health outlook?

How big is the risk of your business partner dying?

The insurance premiums is a good indication - this is the real risk.

The more expensive this is the bigger the risk is, and normally the less you can afford not to have a key man life insurance policy covering you for the loss for if he should die. You should also have a key person disability policy for if he gets disabled

So if your business partner is uninsurable, you should be very careful about making long term contracts with him and have even more contingency plans in place, for what will happen in the case he dies or gets disabled.

Sandton Key Man Insurance
Sandton Keyman Insurance
Sandton Key Person Insurance

[email protected]
Deon Marais 074 141 6606

Your business partners age.

The older your business partner is the more experience he has, but also the bigger chance of him dying, and one should make plans to counteract this risk, in the form of key man life insurance/key person life insurance would normally be the best way to go.

Your business partners health

Knowing the health of your business partner can also help you in assessing the risk involved in going into a long term business relationship with him. Insurance companies are really good at assessing this risk, this means one of the first procedures in assessing if you want him as a business partner should be his ability to get life insurance at a good rate! But it sometimes happen that a disease is found that nobody knew about - this has saved many a life, as early detection insures the right treatment.

As one of the biggest risks is bad health, key man insurance should be put in place first, so that you and your company is never at risk.

Sandton Key Man Insurance
Sandton Key Person Insurance
Sandton Keyman Insurance
Deon Marais 074 141 6606
[email protected]

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Brokers Legal & Law CC

George van Zyl

FSP number: 12430

Nicolson Street 97

Brooklyn

Pretoria

012 346 5664

0877 501 838
Brokers Legal & Law CC

George van Zyl

FSP number: 12430

Nicolson Street 97

Brooklyn

Pretoria

012 346 5664

0877 501 838
Brokers Legal & Law CC is a Law and Financial Advisor combination - this is the ideal combination - as with insurance there is a lot of cases where there are contracts that must be put in place and most of the time it is not at all so obvious what to do.
One contract forgotten can have a devastating effect later!