ABSA Business Insurance

Products

Absa General Business Insurance

• An assortment of assets, including buildings, content, stock, equipment, and vehicles
• Absa Business Insurance covers gross profit, income, and additional costs
• Legal liabilities such as those relating to property owners, tenants, and products fall under the Absa Business Insurance sector

Specialist Business insurance

• Agriculture industry
• Absa Specialist Business cover insures consignment stock, contract performance, and lease deposit guarantees
• Independent workers and contractors
• Plant and specialised electrical apparatus
• Contract accountabilities and professional securities
• Transporters using heavy commercial vehicles
• Cargo during transfer

Insurance to protect your business will include products such as:

Surety Solution

• Absa’s Surety Solution will offer company insurance that protects you, your business, and your partners in the event of death or disability
• Should your business not be able to continue making payments on a bank loan for which you have signed surety, Absa Surety Solution will repay the unsettled amount without affecting your estate

Benefits of Absa’s Surety Solution

• You’ll have peace of mind knowing that, in case of death or disability, Absa’s Surety Solution will endeavour to repay the outstanding amount of the business loan for which you have signed surety – this won’t affect your estate in any way
• The finances of your business will not be put under strain to meet payment obligations
• The deceased business owner’s estate will not be accountable for estate duty on the proceeds of the policy
• The business can reserve excess proceeds from the policy pay-out
• Your business will not incur any additional tax burden

Buy and Sell Solution

• Absa’s Buy and Sell Solution provides a surviving business co-owner(s) with cash to buy shares of a deceased business partner

Benefits of Absa’s Buy and Sell Solution

• Failsafe payment of the purchase price of a deceased shareholder’s shares
• Peace of mind that management of the business will be left in accomplished hands, with no interference from a deceased shareholder’s spouse, dependents, or other heirs
• Reduced risk of ownership disagreements
• Beneficiaries are left with cash to empower them to move on without disturbance

Absa Business Insurance offers a range of fiduciary services

• Wills – Absa Business Insurance assists in drafting up wills that ensure the wishes of the deceased are executed in a legal and efficient manner so that your beneficiaries are taken care of
• Trusts – Absa Business Insurance offers services that simplify the creation and safety of wealth
• Estates – Absa Business Insurance administers deceased estates in a professional and efficient manner in as short a period as is feasible

Why Absa Business Insurance

• Absa Business Insurance has the right cover if you want to get cover against damage to your business property
• Absa Business Insurance has cover against the unforeseen
• If you would like to secure the future of your business, Absa Business has a plan just for you

For business owners that want to secure the future of their businesses, whether large or small, Absa Business insurance has the right product for you.