What are your business risks?

1. Cash flow issues

In the short term, cracks could appear in the form of cashflow problems.

• How would your business generate income without the necessary skills of your key person?
• Could you afford to hire a temporary replacement with the same level of skills, and how long would that take?
• Could you afford to pay your bills and still have cash remaining to run your business?

2. Capital and debt issues

In the longer term, cash flow problems could lead to capital and debt issues.

• How would you pay your debts and expenses?
• Would your customers, suppliers and creditors still want to deal with you?
• Would you still be able to secure credit?

3. Closure or change of ownership

In the event of death or long-term financial hardship, you may potentially need to sell or close your business.

• What would your business be worth then?
• Who would take over the business?
• If your business partner died, would you have enough money to buy their share?
• How would you support your family?

Having financial back-up is the key

A solid insurance plan that gives you regular payments or a large cash injection could make the difference between the survival and collapse of your business.

Your insurance adviser can develop a suitable plan specific to your business and lifestyle. They will:

• Take you through a business lifestyle check to determine your commitments and risks
• Recommend a customised insurance plan that works for you and your business
• Explain all your options so that you’re fully informed
• Provide ongoing support and advice
• Be your first point of call for all your insurance needs.

It means you can rest easy knowing that both your business and your lifestyle can be protected, no matter what life may bring.

Contact us to find an AIA Insurance Adviser near you.