Webinar: Protect your practice - life insurance strategies

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Webinar: Protect your practice - Life Insurance strategies

Watch our recent webinar, 'Protect your practice - Life Insurance strategies', presented by our insurance advisers from Avant Life.

Key takeaways

1. Business overheads cover: If illness or injury stops you from working, your practice bills don't stop. Business overheads cover can pay fixed costs, staff wages, rent, insurance premiums, for up to 12 months, so you don't drain personal savings.
2. Buy-sell agreements: If a partner dies or is permanently disabled, their family may end up owning part of your practice. A funded buy-sell agreement can allow a fair buyout and to keep control where it belongs.
3. Loan protection: Most practices carry debt. If an owner dies or becomes permanently disabled, your financial institution may demand immediate repayment and families may inherit liabilities they can't repay. Loan protection helps clear that debt, protecting those involved.
4. Key person insurance: Losing a top-billing doctor or key staff member overnight may significantly impact your revenue. Key person insurance provides funds to hire a locum and/or recruit a replacement, helping you retain clients while giving your practice time and money to adapt.