Description
Part 1: The basics of business insurance
This one-hour webinar provides practitioners with an introduction into the world of business insurance. We look at how your clients can reduce the risk to their business and to their family if something unexpected happens.
You will gain insights into key person revenue and capital risks and solutions, including insurance to fund business succession agreements.
We also explore the basics of policy structuring and funding premiums and identify the benefits that proper business succession planning provides.
By participating in this training, participants will be able to:
- Engage business owners in the business succession discussion
- Explain the fundamentals of key person insurance, including how to determine whether risks to business revenue or capital (or both) need to be addressed
- Explain the need for a buy/sell agreement, and the fundamentals of a buy/sell agreement
- Describe how and when an insurance policy can provide funding for a business succession plan, and
- Outline the role that the financial adviser plays alongside other professionals during the business succession planning process.
Suitable for:Â accountants, financial advisers and para-planners new to this market or that are after a refresher.
Recorded on 21 September 2023
Presented by Natasha Panagis
TPB CPD Hours:Â 1 hour
Legislated CPD Hours: Technical Competence – 0.75 hours and Tax (financial) advice – 0.25 hours
Part 2: A deep dive into business succession planning
Delve further into the world of business succession planning for a more advanced session on the business succession process.
We will cover why insurance is an effective funding mechanism for business succession planning, including how to best structure a business succession plan that is funded with insurance.
By participating in this training, participants will be able to:
- Review the concept of key person and buy/sell business succession planning
- Outline the process for business succession planning and explain how it can add value
- Compare and contrast the different ownership structures, including their pros and cons
- Explain the taxation implications of the various business insurance ownership structures
- List the tips and traps of buy/sell arrangements and agreements
- Outline how the small business CGT concessions may reduce tax in business succession planning.
Suitable for:Â accountants and financial advisers with an existing knowledge of business succession concepts, or practitioners that are actively involved in the business succession advisory space.
Recorded on 28 September 2023
Presented by Natasha Panagis
TPB CPD Hours:Â 1 hour
Legislated CPD Hours: Technical Competence – 0.75 hours and Tax (financial) advice – 0.25 hours
