This section focuses on how the financial needs identified in your Succession Plan can be addressed in the case of Insurable Events (such as Death, Disability or Trauma).

The “One Page, One Policy Strategy”

Your Succession Plan should make it as easy as possible to deal with the diversity of your Business and Personal Needs.

Because your Needs change over time, the insurance and legal arrangements for your Succession Plan should also facilitate change.

A Complete Succession Plan achieves these goals by using a “One Page, One Policy Strategy”.

One Page Summary

Click here to see a One Page Summary of this Strategy applied to a typical scenario.

Two Strategies

As the name suggests, it consists of two separate strategies:

the One Page Strategy; and

the One Policy Strategy.

The One Page, One Policy Strategy is an alternative to the traditional “Multiple Policy Approach”.

The “One Page Strategy”

The "One Page Strategy" is a convenient method of analysing your financial needs on a one page Risk Analysis Worksheet.

The “One Policy Strategy”

Once you have identified your Needs, you can aggregate your Insurance Cover onto One Policy ( the One Policy Strategy).

The One Page, One Policy Strategy is an alternative to the traditional “Multiple Policy Approach”.

The Other Three Issues:

Issue 1: Strategy (The Relationship Between Business and Personal Needs)

Click here.

Issue 2: Financial Needs ( "The Three Needs")

Click here.

Issue 4: Retirement Funding ("Voluntary Events")

Click here.

Adviser Tip

A Complete Succession Plan is not just about Death, it's not just about Insurance and it's not just about selling your Equity.

See more Adviser Tips

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