Protect your business continuity
What would happen if one of your business owners were to suddenly leave due to death or disablement? It’s important to have a plan in place because, as a business owner, there is nothing more valuable than the control you have over your operation and future direction. Using life insurance would allow you to get the agreed amount of money back to your shareholders, or their estate, at the time you need to without a loss of value.
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Fund your shareholder or partnership agreement
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Manage the risk of being a loan guarantor
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Manage the financial impact of losing a key person
Shareholder protection
We can provide a lump sum payment in the event of the death or total permanent disablement of a business shareholder to allow the other business partner(s) to fund the purchase of the deceased or disabled partners shares.
Loan protection
We can help with loan protection. If you or one of your fellow shareholders is a personal guarantor to a business loan, you should have a plan in place to repay that debt and settle any personal guarantees in the event of death or disablement.
Key person protection
We can pay a lump sum to offset any additional costs incurred from losing a key person due to serious illness, injury, or death. This could include staff replacement expenses, training costs, or compensation for lost profits.
Benefits we offer
- MAS Business Life Plan is a modular and multi-person plan providing you with the flexibility to meet the specific needs of your business.
MAS Business Life Plan is a modular and multi-person plan providing you with the flexibility to meet the specific needs of your business.
Pays the sum insured if an insured person dies.
Pays either the Life Insurance sum insured or $1,000,000 (whichever is less) if an insured person is diagnosed as likely to die within 12 months.
Pays the Recovery Insurance sum insured for an insured person if they experience a serious medical condition and survive for at least 14 days.
Pays the Total and Permanent Disablement sum insured for an insured person if they become totally and permanently disabled. Totally and permanently disabled means due to a sickness or injury the insured person is unable to work and is unlikely to ever work again.
You can apply to increase your cover, without the need for further medical evidence, if an insured person experiences a business-event such as having an increase in their financial interest in the business or an increase in the level of a business loan for which they are a guarantor.
You can choose a payment option which best suits you (including monthly, quarterly, or yearly) as well as selecting a policy ownership structure which ensures funds are delivered to the right source when you most need them.
Pays either 50% of the Recovery Insurance sum insured or $100,000 (whichever is less) if an insured person’s child experiences a serious medical condition and survives for at least 14 days.
You can select for us to increase your sum insured every 12 months for inflation regardless of any change in the health or activities of the insured person with that cover.
Pays up to $5,000 to reimburse business, legal or accounting advice received by the business to implement their shareholder agreement after we pay a claim.
We will waive all premiums due for an insured person while they remain totally disabled.
Pays $10,000 to help return the body of an insured person to their home country if they die while overseas.
Add up to 10 people to your Business Life Plan as you need. This means just one premium and one document for your business for ease.
Benefits we offer
MAS Business Life Plan is a modular and multi-person plan providing you with the flexibility to meet the specific needs of your business.
Pays the sum insured if an insured person dies.
Pays either the Life Insurance sum insured or $1,000,000 (whichever is less) if an insured person is diagnosed as likely to die within 12 months.
Pays the Recovery Insurance sum insured for an insured person if they experience a serious medical condition and survive for at least 14 days.
Pays the Total and Permanent Disablement sum insured for an insured person if they become totally and permanently disabled. Totally and permanently disabled means due to a sickness or injury the insured person is unable to work and is unlikely to ever work again.
You can apply to increase your cover, without the need for further medical evidence, if an insured person experiences a business-event such as having an increase in their financial interest in the business or an increase in the level of a business loan for which they are a guarantor.
You can choose a payment option which best suits you (including monthly, quarterly, or yearly) as well as selecting a policy ownership structure which ensures funds are delivered to the right source when you most need them.
Pays either 50% of the Recovery Insurance sum insured or $100,000 (whichever is less) if an insured person’s child experiences a serious medical condition and survives for at least 14 days.
You can select for us to increase your sum insured every 12 months for inflation regardless of any change in the health or activities of the insured person with that cover.
Pays up to $5,000 to reimburse business, legal or accounting advice received by the business to implement their shareholder agreement after we pay a claim.
We will waive all premiums due for an insured person while they remain totally disabled.
Pays $10,000 to help return the body of an insured person to their home country if they die while overseas.
Add up to 10 people to your Business Life Plan as you need. This means just one premium and one document for your business for ease.
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Get in touchWant to call us?
0800 800 723This webpage is intended as a guide only and does not form part of the policy document or any contract with MAS. It does not consider your specific financial situation, needs or goals. You can find out more about financial advice at MAS here. Normal underwriting criteria apply for all insurance products. Special conditions and/or excesses may apply to the situations that meets your specific needs.