Asset & Investment Protection
You can protect your business assets and investments from risk. You likely intend for your business assets to provide you with solid retirement income. Without proper planning, these assets – as well as current and future income – can be put at serious risk from the following:
- Changing market conditions
- Inefficient tax planning
- Divorce
- Bankruptcy
- Lawsuits
- Death, disability, or illness of a partner
Ensure that your hard work and years of effort don’t go to waste. A multitude of economically feasible options are available to shield your business from these risks. Expect the best while planning for the worst by protecting your business, your income and your family. As part of your comprehensive plan, the Cindy David Financial Group will thoroughly review your assets and investments and assist you in their appropriate, secure structure. Together, we will create the plan that will help you achieve your goals and protect you from manageable risks.
Premature Death
Key person insurance is specifically designed to cover the risk associated with losing staff. It provides your company with protection should anything happen to one of your key employees or business partners. The compensation from the insurance allows your company the time it needs to get back on its feet and provides the funding necessary for finding and training a replacement. It also gives you and your employees’ peace of mind that the company can continue to be productive in the case of tragedy. It also protects the investment of your creditors; in fact, many lenders require a business to take out key person insurance on people they consider important before financing the company.
Disability
In addition to life insurance, many businesses also invest in disability insurance as part of their key person protection plan. This helps cover temporary losses in productivity while a crucial employee is rehabilitating. The odds of becoming disabled increase with age – meaning that more protection will be needed as the workforce ages. Since it’s much more likely that an employee will become disabled than die during his or her working years, insuring against the loss incurred by disability is a smart business move.
How much is disability coverage is enough? Try these handy calculators:
Critical Illness
The odds are 1 in 4 that you’ll suffer a life-threatening illness during your lifetime. While it’s likely that you will survive, your retirement plans could be very seriously damaged.
Critical illness insurance provides you with a lump sum benefit if you contract a covered illness. The money can be used however you wish, whether it is to fund private or alternative medical treatment, pay down a mortgage or other debts, or even finance a holiday to aid recovery – all without dipping into your retirement fund.
Basic critical illness insurance plans generally cover these top 3 illnesses:
- Heart Attack
- Stroke
- Cancer
A more comprehensive plan, and the type of plan that we prefer to recommend at Cindy David Financial Group, provides a more thorough coverage, including:
- Heart attack
- Stroke
- Coronary bypass
- Life-threatening cancer
- Kidney failure
- Major organ transplant
- Paralysis
- Multiple sclerosis
- Blindness
- Deafness
On top of this, there may be “early intervention” benefits that provide a portion of your benefit if you receive treatment for specified early onset conditions. As a business owner, you may find value in critical illness coverage for:
- Key person coverage
- Buy sell funding
- Employee benefits
- Employee replacement protection
- Taxes
- Retirement funding
How much is enough? Try the Critical Illness Calculator
Long Term Care
There is a real chance that at some point in your life you may need to enter a long term care facility or receive special medical care in your home. This type of care does not come cheap, and depending on the level of care you may want or need, the cost may not be paid by your government health plan. With the benefit that comes from long term care insurance, you may not have to withdraw from your savings, or fully rely on other sources of funding.
Contact us today to protect what you’ve created
