SME Business Solutions

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A partnership firm is known to protect the interest of each partner. In an unforeseen circumstance like untimely and unfortunate death of a partner, the future of the business may be in jeopardy if the company has to look out for the partner’s family/bear the cost of their liabilities. A life insurance policy can protect the company’s financial assets and take care of any costs that would otherwise have to be borne by the surviving partners.

Insurance policy offered by Aditya Birla Sun Life Insurance under Partnership Scheme, ensures that the continuity of the business is maintained even in the eventuality of losing a partner. Partnership Scheme is ideal for all the partners of the firm. The most important benefit offered under this scheme is that on the death of the insured partner, the firm will have liquidity available to purchase the deceased partner's share.

Features & Benefits

  • Ensures that working capital requirements are not

  • Compromised to buy out the share of the deceased partner

  • Risk mitigation & business continuity

  • Reduces the risk of partners having to bring

  • Additional funds to purchase the share of the deceased partner

  • 1Tax benefits under section 371 of the Income Tax Act, 1961 - 1Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details.

A partnership firm is known to protect the interest of each partner. In an unforeseen circumstance like untimely and unfortunate death of a partner, the future of the business may be in jeopardy if the company has to look out for the partner’s family/bear the cost of their liabilities. A life insurance policy can protect the company’s financial assets and take care of any costs that would otherwise have to be borne by the surviving partners.

Insurance policy offered by Aditya Birla Sun Life Insurance under Partnership Scheme, ensures that the continuity of the business is maintained even in the eventuality of losing a partner. Partnership Scheme is ideal for all the partners of the firm. The most important benefit offered under this scheme is that on the death of the insured partner, the firm will have liquidity available to purchase the deceased partner's share.

The Married Women’s Property Scheme comprises of two sections:

Section 6 of the MWP Act, 1874 | Section 5 of MWP Act, 1874

Section 6 of the MWP Act, 1874

  • A tool to ensure your wealth is passed down only to your desired loved one/s

  • Helps create an insulated corpus for your beneficiaries

  • Ensure your family is protected against any future financial adversities

  • Estate planning tool

  • Desired allocation of corpus for intended beneficiaries

  • Help the family maintain a better lifestyle even in case of financial adversities

  • 1Tax benefits under section 80C and 10 (10) D as applicable - 1Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details

Section 5 of MWP Act, 1874:

  • Corpus created which is insulated from the liabilities of your husband

  • Benefits under this policy will go to the life insured on any chosen nominee

  • 1Tax benefits under section 80C and 10 (10) D as applicable - 1Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details

A partnership firm is known to protect the interest of each partner. In an unforeseen circumstance like untimely and unfortunate death of a partner, the future of the business may be in jeopardy if the company has to look out for the partner’s family/bear the cost of their liabilities. A life insurance policy can protect the company’s financial assets and take care of any costs that would otherwise have to be borne by the surviving partners.

Insurance policy offered by Aditya Birla Sun Life Insurance under Partnership Scheme, ensures that the continuity of the business is maintained even in the eventuality of losing a partner. Partnership Scheme is ideal for all the partners of the firm. The most important benefit offered under this scheme is that on the death of the insured partner, the firm will have liquidity available to purchase the deceased partner's share.

Features & Benefits

  • Safeguard the business from financial losses occurring due to death/critical illness of key employee

  • Risk mitigation & business continuity

  • Provides corpus for ex gratia payment to the family of deceased employee

  • Business protected on human capital can attract finance on favourable terms

  • Corpus for fresh hiring/pay off any liabilities

  • (1)Tax Benefit - (1)Tax Benefits are subject to changes in the tax laws, please consult your tax advisor for details

As a part of an organization’s employee welfare scheme, an employer can retain and reward his/her employees while protecting their life, with an insurance policy offered by Aditya Birla Sun Life Insurance under an Employer Employee Scheme. Under this scheme, an employer provides life insurance to their employees - thereby giving them financial security and an opportunity to build a sizeable retirement corpus.

Features & Benefits

Employer

  • Gains employee’s loyalty & boosts employee morale

  • Enhances employee retention

  • Reward and promote employee engagement

  • Saves cost of hiring and training new employee

  • (1)Tax Benefit - (1)Tax Benefits are subject to changes in the tax laws, please consult your tax advisor for details.

Employee

  • Sense of financial security and performance reward

  • Financial Security for the dependants

  • Build retirement corpus

Senario

  • Sameer and Vishnu are partners, running a private firm together. Vishnu dies in car accident and losses due to his ultimely death has to be compensated by Sameer alone. Along with business liability he also had to pay Vishnu’s family their share of partnership money.

    scenario-partnership-1
  • If Sameer and Vishnu had insured themselves with Partnership Scheme, incase of either partner loss, the insurance money could have been used to pay the deceased partner family or compensate business losses.

    scenario-partnership-2

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