What happens if you cannot work.
WHAT THE EXPOSURE IS
No sick pay, no employer cover, and a business that may depend on you entirely.
WHAT TO ESTABLISH
How long the business could run without you How long your household could manage without your income
WHY ASK BOTH
They are different questions, and both matter.
WHAT REDUCES THE RISK
A business that does not depend on one person Documented processes Someone who could step in Reserves Insurance
WHAT INSURANCE MIGHT COVER
Death Serious illness Inability to work
WHAT TO ESTABLISH ABOUT ANY POLICY
What it covers What it excludes What it pays, and for how long What conditions must be met
WHY EXCLUSIONS MATTER MOST
They determine whether it pays when you need it.
WHAT TO CHECK ABOUT THE PROVIDER
That they are licensed.
WHAT ELSE TO ARRANGE
A will Clear records of accounts and obligations Someone who knows where everything is
WHY THAT LAST POINT
Families are left unable to access or understand anything.
WHAT TO DOCUMENT
Accounts, policies, obligations, key contacts and where documents are held.
WHERE TO KEEP IT
Somewhere a trusted person can reach.
WHAT TO REVIEW
The arrangements, when circumstances change.
WHAT TO AVOID
Assuming it will not happen.
