Running a business can have many challenges, especially in the start-up phase. So once you get yourself going, how can you protect not only your livelihood but the livelihood of those that depend on you?

When you think of business insurance your first thoughts may be protecting your physical assets or covering yourself with public liability cover. But what about protecting your key people or shareholder debt protection? When you start to consider what business income protection insurance encompasses, you realise business insurance can take many forms.

Eliminating risk with shareholder protection

Shareholder protection is used so that should a shareholder pass away prematurely or suffer a total disability, the remaining business partners have the ability to purchase the shares of the afflicted shareholder. By having this type of protection in place, the affected shareholders family can receive funds without the remaining shareholders having to find a way to fund a buyout or forcing a quick-fire sale of the business.

Generally, a Share Purchase Agreement will accompany this type of insurance. A Share Purchase Agreement ensures that any insurance benefits are legally obligated to be used for the purposes that the insurances were established for.

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Business debt protection

If your business partner suffered a serious illness which stopped them working or passed away, could your business keep going? More importantly, would you be liable for all business debt?

The ability to repay debt can make or break a business. By ensuring you have a form of business debt protection in place you will have peace of mind that you could repay debt and protect your personal assets, such as your family home, from potential creditors.

Ensuring business continuity by protecting your key people

Business continuity protection can provide you with a regular benefit to help keep your business running should you or any of your key employees be unable to work due to an accident or illness.

Why would I need business continuity protection?

  • How long could your business survive if you or a key staff member were not able to work?
  • Could you keep up your debt repayments if your income stopped?

You may hold the view that ACC would help you out in the above circumstances. However, ACC can only provide a benefit to see you through an accident – not a serious illness. By having business continuity protection in place, you can provide your business with funds to replace either yourself or a key person to keep income flowing through the business.

Start-Up Income Protection Insurance

Start-Up income protection is similar to business continuity protection except that is designed for those that have been in business for less than three years.

This type of insurance is important as any setbacks during the crucial early stages of your business could mean that you miss out on growth opportunities or stop you from being in business altogether.

If you are just starting out you can get an agreed value policy that will pay you a fixed amount in the event you can’t return to work. This is still income protection insurance however it is not as comprehensive as a traditional policy. Most insurance companies will allow you to upgrade after 24 months and you won’t have to provide financial evidence of income. If you want to compare and see what policy is best for you then click here to compare.

If you would like to learn more about protecting your business, click here to speak to an experienced adviser who understands what business insurance is all about.

Important: All information on this site is of a general nature only. When you compare or complete the assessment online, we will connect you with an advisor who can give you advice at no charge. All advisers who are authorised to use this site, for their marketing purposes, are authorised financial advisers. A full list of advisers and what they can advise on is listed here under our terms & conditions of this site usage.


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Quick and easy, actually listen to what I wanted and didn’t try and push anything else on to me
Well knowledgeable and prompt when responding to queries
At first I was skeptical but after doing a little reasearch on The Mortgage and Insurance Shop, there was nothing but positive reviews.Blake really went above and beyond to provide me with as many costs/quotes that suited my financial situation. He provided all the information I needed and explained everything, he made sure I was covered in all the areas I needed and provided great support. He's super knowledgeable and very efficient.I highly recommend Blake, he's amazing!
Blake really helped me understand how the Insurance scene works in New Zealand. The service was prompt and to the point. Would absolutely recommend him to all who need to make informed choices.
Hayley Evans is highly recommended broker, very professional communication excellent Hayley was able to help what I wanted I would recommend Hayley to others. My only regret was I did not do this sooner. Talahiva Riggs
Very helpful and knowledgeable
Easy to deal with and got the right insurance, thanks Hayley
Nicole was a great help and had lots of knowledge.I did not feel rushed and was given options, that at the end of the day was my decision.Very happy with how everything worked out and highly recommend!
Great service and follow up 💯
Hayley was professional and accommodating to everything we requested. She helped with multiple revisions to our insurance quotes and was easy to get hold of and quick to respond. It's great having that personal assistance when dealing with multiple policies etc. Thanks
Awesome service! Highly recommended! Caring and friendly, made every step so easy and stressfree! Go Hayley!!!!! Thanks for all your help!!!!
Blake was very knowledgeable and easy to deal with, definitely recommended!
Hayley was a breeze and lovely to deal with highly recomend
Being a super busy person I had tried to get life insurance in the past and put it on the back burner because of how much time it took up. My partner got a hold of these guys and I had Hayley contact me. Hayley was absolutely amazing to work with. She would call me and tell me in layman’s terms what I needed to do. Thank you heaps Hayley!!!
An excellent company! All throughout the process, excellent customer support. The group goes above and above at every stage and is incredibly knowledgable. They are something I wholeheartedly recommend.


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