Business Protection


Continuum Wealth Planning can assist you with:

  • Key Person Insurance
  • Succession Planning
  • Business Expenses Insurance

Key Person Insurance

Key person insurance is essentially life, total and permanent disability (TPD) and trauma insurance taken out by your business on the life of a person critical to the business.  In the unfortunate event that the person dies or has to leave your business due to TPD or serious medical trauma, your business will receive a lump sum payment you can use at this critical time to:

  • Replace lost revenue and/or cover
  • Cost to recruit and retrain
  • Provide capital to help business to remain operation and cover business against loss of key clients, income and goodwill.

Succession Planning

A Succession Plan is vital for your business.  You work hard to build a business asset that you and your family enjoy the fruits of, but one day you will leave the business.  You may decide to sell or retire but the unexpected could happen and you may become disabled or die.

A Succession Plan is about planning for when you leave the business it is not just about insurance, and the plan will require expert legal advice and the involvement of your Accountant.  

Our Adviser will work either with your existing Accountant and Solicitor or can introduce you to new contacts  should you need them.

If your business is a partnership it is even more important to plan.

Business Succession Case Study

John and Brian, partners in a business that had exclusive contracts to import and sell exclusive makes of motor vehicles, a dealership that they had built up over 15 years. The dealership had an extensive recurring client list and a high profile reputation in their city, the benefits of which enabled them to live the high life. Despite running such a high profile and profitable business, they had never taken the time out to consult with professional advisers on the establishment of an Effective Succession Plan, nor key business agreements and insurances.

Unfortunately, Brian’s life long love of rich food and imported beer caught up with him, and died suddenly and unexpectedly of a massive heart attack. Also unfortunately for John, Brian’s widow Jenny, who had never previously taken an interest in the day to day running of the business, thought that it couldn’t be too hard, and demanded to be treated as an equal partner in all decisions, as she was the beneficiary of  Brian’s 50% shareholding.

It soon became clear to John that Jenny had no business acumen – clients who had previously purchased numerous vehicles from the dealership began to complain, long term staff were resigning and suppliers were reviewing the exclusiveness of their agreements. The relationship between John and Jenny had deteriorated to the point that the only communication they had involved either party’s lawyers.

What was previously a business that could have been sold for a price that would have funded a retirement, was now virtually worthless. Staff turnover sky rocketed to the point that John had to return to the showroom floor on a full time basis and suppliers cancelled their exclusive agreements resulting in a former staff member starting a new dealership in competition.

Had John and Brian sought professional advice, and implemented strategies including buy/sell agreements and insurance, this situation could have been avoided. Upon Brian’s death, the buy/sell agreement would have resulted in Brian's ownership transfering to Jim.  The funding to ensure that Jenny got the value of Brian's business share could have been funded by a life insurance policy.

Business Expense Insurance

Business expenses insurance helps business owners pay fixed monthly expenses in the event they are totally disabled and unable to work and due to their disablement the business does not have sufficient funds to cover ongoing expenses.

Expenses such as employees’ (non-income earning) salaries, business loan repayments, rent, rates, and electricity, water and gas bills can quickly mount up and be financially crippling for a business when one of its owners is unable to work.

But with business expenses insurance in place you have the comfort of knowing that even if you can’t work and the business is unable to generate enough income to cover the monthly expenses, your expenses will be paid for a set period.

Your Adviser has access to over 10 of Australia's largest and most trusted insurance companies so you can be confident that you will be recommended a competitive policy which is right for you, your family and business.



14 May
12 May