One problem led to the real problem
I sat down with a chap who wanted to provide staff benefits. But ignoring this initial opener, I found out that he had a mortgage that was going to be getting bigger due to a house move and a business he had been running in partnership for five year with two other partners.
When I asked him about protection for the business in case one of them died, he said they had nothing. I also asked if he was aware of what the financial implications to the business would be if one of them died?
I said to him “I know this is a nice thing to do for your staff but from what you have told me, you have some more pressing issues… protecting your business. Get that in place, then we will look at what else you can do. He just hadn’t thought about these issues but soon made good by buying six policies; three shareholder protection and three Relevant Life policies.