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Money
Mentors offer a range of Investment Services including managed
funds, shares and unit trust products. We only
recommend an investment to you however after considering its suitability
for your individual investment objectives, financial situation and
needs.
Read
the Financial Services Guide
to learn about the relationship you'll be entering when requesting
our services- the commitments, the returns and the protection afforded
your investment.
Contact
Money Mentors if you would like to discuss Investing with
us.
Everybody
knows that as the population gets older and the 'Baby Boomers' approach
retirement age, having your own means is the only way of guaranteeing
financial and lifestyle security.
Chances
are you've been steadily building for awhile now- and that's great.
But are you building toward the best outcome possible? Are you exposed
to the right amount of risk? Do you know exactly where you want
to be?
Would
you like to talk to someone who knows how best to manage this scenario
and is trusted by hundreds of people in your situation?
Contact
John Petralia, our retirement planning expert, for an initial
consultation to see what we can do for you- or click here to see
John's profile.
1.
Business Insurance
How
would your business fare if something happened to you or another
partner?
The
time to plan for events that could potentially ruin your business
and the dreams you've built around it is before they happen. Granted
it's never pleasant to consider tragic events, but statistics suggest
you have a high chance of being faced with one during the life of
your business.
In
a business with 3 male partners aged 45, there is a 50% chance one
will die before retirement at 65.
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Could the finances be unravelled to buyout your partner's share
of the business?
- Is the business debt secured by personal guarantees over assets
such as your home?
- What would you tell your business partner's family if those
personal guarantees were called in? |
If
you're a partner in a business- these 'what ifs' need to be answered
now. Money Mentors can help you choose a business insurance product
that will best meet your situation and secure the future of your
business and the future of those who rely on you for financial support.
The
purpose of business insurance is simply to protect your business
through:
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Providing funds that enable surviving partner/s to buyout the
business owner who is unable to continue through illness, injury
or death;
- Replacing lost business income and profits;
- Repaying business debts;
- Maintaining credit standing of the business;
- Covering the cost of replacing and training new key person;
- Obtaining release from personal guarantees;
- Keeping the business viable until a suitable buyer can be
found. |
Money
Mentors can tailor your cover in the following ways:
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Key Person Insurance
- Business Succession Planning
- Personal Guarantor Insurance
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Key Person Insurance
A key person is someone who is critical to the operation of
a business.
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How would the business fare if a key person were to be
suddenly removed?
- Could anyone step in and smoothly take over the running
of the business?
- Is there a risk clients might go elsewhere if there
was such a disruption to your business?
- Would profitability and goodwill suffer? What impact
would this have on the value of the business should you
need to sell? |
Only
through planning can you ensure your business is able to maintain
value and continue operating should a key person die, become
disabled or suffer a debilitating illness.
Contact
Money Mentors to ensure those who continue to rely
on the business are protected.
Business Succession Planning
Business Succession Planning describes the steps that should
be taken in order to make possible the transfer of a business
interest from one owner to another person/s or entity, should
the need arise.
Contact
Money Mentors to learn how an agreement can be mapped
out and insurances placed that will give surviving partners
the path and funds to buyout the business.
Personal Guarantor Insurance
Many surviving business owners have been shocked to find that
the death of a guarantor triggers an automatic default in
most loan agreements.
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Is it possible you would be forced to refinance or repay
business loans if you
or
one of your business partners were suddenly out of the
picture?
- Could the overdraft facilities of your business be
withdrawn?
- Would your personal guarantees be called upon?
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Appropriate
insurance is the least costly and one of the most effective
solutions to ensure your business is able to continue meeting
its financial obligations. Contact
Money Mentors to see that remaining partner's business
and personal assets are protected.
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2. Income Protection
While
we're healthy and working our quality of life is something we often
take for granted. It's easy to assume that this lifestyle will continue-
and so long as you keep working hard- your financial obligations
and goals will continue to be met.
Cancer,
cardiovascular disease and accidents can change this situation in
an instant. With medical care continuing to improve, chances are
improving that you will recover- but if you're unable to work for
a period of months or years, how will you maintain the lifestyle
you've worked hard to achieve?
You
can't predict these events and often can't prevent them either.
What you can do however is protect your financial situation so that
your independence and assets will be the least of your worries.
Contact
Money Mentors to define the best combination of life cover,
trauma cover or income protection for your needs.
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