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TUVIDA provides high end quality Risk advice, an integral element of this advice is the structuring and building of a Risk Protection Portfolio which is focused at the measures and strategy to mitigate as much risk as possible. You would probably have heard mentioned Wealth protection and Personal insurance, which are other names that this area of Risk is known by.
We often do not place enough thought into what would happen should one of our most valuable assets, the ability to earn an income, was affected in some manner. The lifestyle that you and your family are accustomed to would be affected, if you could not work due to illness or injury. Would there be security to continue affording your day to day style of living?
Would your family be in a position to maintain all financial obligations, should you not be around tomorrow?
Do you have the necessary funds to get optimum medical treatment, should you suffer a serious illness?
Is your business will in order? Do you have a business will?
As you know knowledge is key in any industry. Are your key personnel covered from a revenue generation perspective?
These are the hard truth questions that we sometimes brush aside. TUVIDA specialise in these areas of Corporate Risk Assessment and Risk Protection Portfolio Design to:
- Fortune 500 Net worth Individuals
- Australian Expatriates
- Unique insured policy structure
- High value policies
- Business Risk Protection Portfolio design
Income Protection will allow you to receive a revenue stream should you suffer any illness or injury that prevents you from being able to work. It is not uncommon that many people’s assets, like businesses, houses and cars, are insured, yet their ability to earn an income that pays for these are not.
Business Expenses protection has synergies with your Income Protection, making it easier to pay for fixed business overheads for up to 12 months.
Life cover ensures a lump sum payment upon death. The utilisation of these funds can not only clear debts, create an income, take care of other expenses it also unburdens families at an extremely stressful time.
Leading-edge Trauma / Critical Illness cover enables you access to funds should you be diagnosed with around 35-45 serious illnesses, such as cancer, a heart attack and a stroke. This will allow you to get the highest possible medical treatment available. It will also allow you to cover the household bills whilst your recovery and treatment is taking place.
Total Disablement cover is there to provide a lump sum payout in the event that you suffer an illness or injury that prevents you from being able to work.
Key Personnel Protection is aimed at replacing lost business revenue or capital value, which normally occurs due to the loss of a key person in the business. The loss of key individual’s ideas, drive, initiative, skills and ingenuity associated with them should they suffer a serious illness, are disabled or die.
The Business Will enables a terminating principal to sell his or her part of the enterprise to the continuing owners and for them to buy it if they suffer a tragic event. A well prepared business will consider the legal, taxation and financial impact on your business; therefore, the preparation of it should be a team effort.
We suggest the following professionals should be involved:
- Risk Protection Specialist – matches the product to the need, for example, type of business Risk Protection required, amount of cover etc. Ensures that the product solution does not trigger unnecessary CGT.
- Accountant – Values the business and calculates the transfer of costs such as CGT, stamp duty etc.
- Solicitor – Takes instructions from the client. Drafts an appropriate agreement to minimise the potential for any adverse outcomes, such as CGT, hostile estates etc.