Have you prepared your business for the worst case scenario?

Let me ask you a question - what’s your biggest fear? Heights? Speaking in public? Death? Losing a loved one?

Of course none of us like to think about the worst case scenario - but have you ever thought what would happen if something happens to you? Who would take care of your family and your business?

It’s funny how we prepare a Plan B, a Plan C and a Plan D when we’re going on a five day holiday. We carefully draft out-of-office emails, we leave someone in charge in our absence, we make sure business goes on as usual.

But we just don’t want to think about what would happen to our mortgage, business loans, childcare and all the other daily expenses if we’re suddenly diagnosed with a serious illness.

In fact, research shows that many people do not have life insurance or have low levels of cover. Do you know why? Because they think it doesn’t suit their budget or that it’s simply not necessary.

that’s extremely ironic because being uninsured can leave you, your family and your business financially vulnerable.

You’re right - it’s not a pleasant thought at all. But it is a practical one. As a small business owner, you need to prepare for all sorts of scenarios where people you care about are taken care of even if you’re not in a position to do so yourself.

Small Business First have a great life insurance offer from an award winning provider at the moment. You can save an average of 20%* on Life Insurance and receive the first month FREE** if you apply before 31 August 2017. If you’re thinking of taking out cover that suits your needs, check out the life insurance offer to find out more about the offer and terms.

This script is from an episode of Business Builders on Talking Lifestyle. You can listen to David Koch talk about why small business owners need to think about life insurance in the full radio show podcast for Business Builders

 

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*The first month free offer is available if you apply for cover before 31 August 2017. If you apply for cover before 31 August 2017, you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer.

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