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What is Buy and Sell insurance?

Have you ever considered what would happen if you or your business partner became disabled, impaired or died? Your estate could be left exposed, or a portion of the business could be passed on to someone who has no interest or experience in it. Old Mutual Protect Business Life Cover pays a single tax-free amount, starting from N$100 000, which allows business owners to buy the share of the deceased owner. Not only can you protect your business from the impact of death, but also from that of disability or impairment. Buy and Sell insurance ensures that the business is retained and the family who inherits the share receives their full value.
How does it work?
  • Choose your cover - in this instance Old Mutual Protect Business Life Cover.
  • Enrich your cover by paying extra to add on benefits such as Old Mutual Protect Business Disability cover or Old Mutual Protect Business Functional Impairment cover.
  • Choose your add-ons. If you selected Old Mutual Protect Business Disability cover in step 2 then you can add on an Own Occupation Benefit. It pays a single amount if you're unable to do your own job.

    • With the help of your financial adviser, you can build cover that's right for you, following these three steps:

    Protect Buy & Sell Insurance    What are the extra benefits?

    Old Mutual Protect Business Disability Cover – pays a single payment of between N$100 000 to N$30 million if, because of an illness or injury, you become permanently disabled and can’t work or permanently impaired or can’t take care of yourself.

    Old Mutual Protect Business Functional Impairment Cover – pays a single amount between N$100 000 to N$30 million if, because of an illness or injury, you become permanently impaired or can’t take care of yourself.

    Protect Buy & Sell Insurance
    Why choose Old Mutual's Buy and Sell insurance?Because while it's designed for people, it's built for you.
    WANT TO KNOW MORE?Please download our informative brochure.Need to know more about Old Mutual's Buy and Sell insurance?Take a look at some of the frequently asked questions below.

      Product ownership is based on a buy and sell agreement between all the business owners. The options available are:

      • Single owner – each product is owned by one of the business owners.
      • Multiple owners – each product is owned by two or more business owners.
      • Company owned – all products are owned by the business.

      Speak to your financial adviser or broker to get cover. Unlike off-the-shelf products, ours are designed around what you personally need and want. Your adviser or broker can help you build your customised cover. Should you not have an adviser please call us on 061 299 3003 or SMS 66522.

      Cover starts up to 30 days before the first premium is payable.

      • If you stop paying premiums the cover stops. It's important to get in touch with your adviser before this happens so that he or she can assist you with possible solutions.
      • As this product is not an investment. If you cancel it you won't receive any money.