You can choose just one cover, or a combination, to suit your own particular situation and business needs.

Ownership Buyout Cover – A lump sum payment to fund a buy-sell agreement, paid out if during the cover term, the life assured:

• Dies
• Is diagnosed with a terminal illness
• Suffers a ‘Total Long Term Disability’

The proceeds of the cover are required to satisfy the conditions of the shareholder buy-sell agreement.

Debt Protection Cover – A lump sum payment to repay business debt, paid out if during the cover term, the life assured:

• Dies
• Is diagnosed with a terminal illness
• Suffers a ‘Total Long Term Disability’

The proceeds of the cover are required solely to repay business debt.

Permanent Loss of Key Person Cover – A lump sum payment to provide the capital to successfully replace a key person, paid out if during the cover period a key person:

• Dies
• Is diagnosed with a terminal illness
• Suffers a ‘Total Long Term Disability’

The key person’s employment with the business ends as a result of the death of the life assured.

As well as the covers described above, you can also add the following traditional covers to your business insurance plan:

• Life Cover
• Total and Permanent Disability Cover
• Trauma Cover
• Severe Trauma Cover

In the event of the death, terminal illness, total and permanent disability, or trauma of a sole trader, key employee or an owner or debt guarantor (whether employed within the business or not), these standard plans can be used to:

• Fund buy-sell agreement commitments, debt repayment commitments and key person replacement costs
• Fund business debt re-payment in the event of the death of any individual
• Provide capital to the business to fund replacement costs and loss of revenue in

These key benefits are intended to help you understand what may be available. As insurers differ in how cover is structured, the exact features, limits, and conditions will vary. We’ll guide you through the options and confirm the specific details relevant to your cover.