Maximise Banner
Minimise Banner
  • BOV Investment Funds
    Designed for those interested in investing in line with ones risk tolerance. ...
next previous
Life Assurance: How do you put a price on a life?
27 Feb 2015
next Previous
For most of us, life assurance is no more than a ‘necessary evil’ – a check box to tick when taking out a facility because we have to, not because we want to.

However, any business, irrespective of size, has key assets that are critical to its’ survival and growth. No business is immune to a rainy day. Your business may at some stage face up to the consequences of the death or critical illness of a key person. Life assurance answers precisely this eventuality– an eventuality that sends shivers down even the most hardened businesspeople, but an integral part of managing risk. It is up to you to measure the probability of a crisis against the likely probability of occurrence.

What would the repercussions of a loss of a business partner or key employee mean for your enterprise? Would the surviving partners have easy access to funds to purchase his/her share of the business from his/her estate? Would the inheritors want to involve themselves in the business? Would they be able to sell their shares? Similar scenarios can be drawn should a key employee become suddenly unavailable. It could mean loss in profits, reduced sales, recruitment and training costs and disrupted plans to mention a few.

Having the foresight to protect your business against these risks can make the difference between running the business smoothly or risking to close up shop. These potential problems can be addressed through a partnership or shareholder protection plan that combines the availability of the necessary funds with a legal agreement that ensures these funds end in the right hands. With the right insurance in place, the surviving business partner will have enough capital to keep the business going while looking for a replacement for the deceased partner, or to buy out the heirs of the deceased partner.

A BOV Business Protection Plan makes business sense. You can avail yourself from a suite of flexible products that allow you to tailor cover to the needs of your business at any given time. The BOV Business Protection Plan is flexible enough to protect your business in the case of extraordinary circumstances concerning your key persons, partners or shareholders.

So whatever type of business you are in, speak to us and see how we can help you protect your business.

(Article on Commercial Courier Feb 2015)

Share this item:
Sort reviews by:
This item has no reviews yet.
Print page
My Guide has identified the following related material
next Previous
BOV financial news feed
Go to news page >>
latest results
10/06/2018  BOV Statement >>
20/05/2018  New Internet Banking Platform for BOV Customers >>
25/04/2018  2017 winners of BOV Investment Education Programme ann... >>
21/12/2017  Standard and Poor's (S&P) issues Bank of Valletta with... >>
09/03/2017  Malta Stock Exchange Newsletter Q4 2016 >>
08/02/2017  Clients invited to use electronic payment options >>
08/02/2017  First investment seminar 2017 for BOV employees >>
BOV Twitter Feed
BOV Facebook Feed
BOV Pjazza
BOV users are discussing the following topics >>
What to consider before making investment decisions
We often find ourselves at crossroads when faced with the decision of whether to invest or not. When should I... read more >
Mario Mallia speaks about the Banking Sector
Mario Mallia, the Bank's CEO rounds up 2016 for the banking sector, whilst looking ahead at 2017. Here he spe... read more >
Introducing Multi-Asset Funds
Multi-Asset funds are funds that invest across a wide range of asset classes which may include equities, bond... read more >
BOV Market Watch - Week Ending 3 June 2016
BOV Market Watch - Week Ending 3 June 2016... read more >
Life Assurance: How do you put a price on a life?
Life assurance is generally linked to one’s personal life, but what about your business? Doesn’t it warrant p... read more >
IFRS 9 - The new kid on the block
Numerous articles have been published on IFRS 9, the new standard dealing with financial instruments, and it ... read more >
See full list of topics and discussions >>