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  • info@rrib.co.za
  • 21 Riverhorse Close, Riverhorse Valley

Commercial Insurance

THE ABILITY TO EARN AN INCOME IS YOUR GREATEST ASSET

Reid Raetzer Robsons offers Corporate Financial Planning & Advisory Services that improve the financial risk management and succession planning of businesses and business owners.

We understand that you as a business owner has a lot on your plate, and if something were to happen you, or a key individual in your business, your family, your business and yourself could be left in a financial crisis.

By analyzing your financial risk and implementing the right solutions, we can ensure that your business, your family and yourself are protected from a negative financial impact if tragedy struck.

PENSION FUNDS | GROUP LIFE | MEDICAL AID & GAP COVER

“Train people well enough so they can leave. Treat them well enough so they don’t want to.” – Sir Richard Branson

Reid Raetzer Robsons values its staff. Without them, we wouldn’t have a business. We take the same care when dealing with our Corporate Clients because our staff members are not numbers to us, and neither are yours.

PENSION/PROVIDENT FUNDS

A Pension (or Provident) Fund is a common first step towards a holistic employee benefit offering. The provision of this benefit provides the employee with forced retirement funding as the contribution is deducted prior to the the receipt of salary. This will enable a low level of retirement investment that is accompanied with it’s own tax advantages.

Our Corporate Brokers will be able to assist in not only structuring the correct offering in accordance with the needs of the business, but also in presenting these benefits to your staff and explaining the value and impact that it will have on their future.

GROUP LIFE INSURANCE

Group Life Assurance is risk benefit that provides cover on the death and/or disability of an employee. A severe illness benefit can also be added to this portfolio however this is not a common practice.

SEVERE ILLNESS

Severe Illness, or Dread Disease, Cover is becoming increasingly important, especially in the younger generations. Previously a heart attack, cancer or stroke was viewed as a condition that would only affect you in your later years in life. We are seeing more and more claims affecting the 20 and 30 year old age bracket and it is increasing on a yearly basis.

Severe Illness cover is necessary to cover medical costs that are over and above the provision of your medical aid and gap cover, and also to provide for those unforeseen expenses. We unfortunately forget the mundane daily tasks we perform with ease, such as grocery shopping, cooking, cleaning. Having the financial capability to delegate these tasks to an external provider allows more time for recovery and rest.

Lastly, and most importantly, Severe Illness cover, if calculated correctly could allow you to put your career on hold and focus on your recovery. A mild heart attach or early stage cancer may not render you disabled as you might still be able to fulfill the roles and responsibilities of your occupation. In turn, this leaves you in the same position of stress and day to day activity that you had prior to your condition, which is not conducive to a full recovery. If you had the financial resources to put your occupation on hold for a year, for example, and focus on your recovery, this could have a drastic effect on whether your illness may advance or not. Our Life Brokers will discuss this with you and together we can build a financial plan that will cater specifically to your needs in the event of Severe Illness.

BUY & SELL AGREEMENTS

The implementation of a Buy & Sell Agreement, also known as a partner agreement, is imperative when a business has two or more shareholders that do not have an intention of leaving their shares in the business to a family member.

A Buy & Sell Agreement is an agreement between shareholders that provides for the sale of the shareholder’s shares on death and/or disability.

The benefits of implementing a Buy & Sell Agreement are the following:

  • The purchase price of the shareholder’s shares is determined up front
  • An agreement is in place that guarantees a sale on death or disability
  • The funding for the purchase of these shares is already in place by means of a life policy

For more information on Buy & Sell Agreements, speak to one of our Corporate Specialists.

CONTINGENT LIABILITY

A Contingent Liability policy is used for a business owner that has signed surety for the debt of their business.

This is a contractual agreement that is funded by a life policy in the event that a business owner should pass away or become disabled. The death or disability of a business owner would trigger a claim on the life policy, thereby enforcing the agreement between the owner and the business.

The proceeds of the claim would be used to settle the debt that the owner signed surety for, releasing their obligation to the bank and securing the financial stability of the company.

It is common to find a life policy in place without a signed Contingent Liability Agreement. This could cause severe consequences on the death of a business owner.

For more information on Contingent Liability Policies and Agreements, speak to one of our Corporate Specialists.

KEYMAN ASSURANCE

Do you have a staff member in your employ that without them, your business would suffer financial loss? A staff member, who to replace, would take a great deal of time and training? This is the importanance of Keyman Assurance.

Keyman Policies provide a business with an insurance option that will cover the life of your valuable employee and provide your business with a lump sum payment should this employee pass away or become disabled. We understand that there will be costs involved in replacing this employee, and worse, there could be a loss of turnover. Keyman Assurance Policies are implemented to provide for this loss and assist the business in the adjustment period.

For more information, speak to one of our Corporate Specialists to find out more about Keyman Assurance Policies.