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Introduction to
Partnership Insurance
An Empower Now Initiative
https://www.empowernow.group/
Let us understand Partnership Insurance through a
case study
The Story of ABC Corp
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4 Partners in ABC Corp
Rueben
Regina
Rex
Redd
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The Partners have formed a great Team
Business flourished within 3
years of launch of the firm
Lenders & Creditors were trying
to woo the firm, as they found
the business model & the team
behind it as very credible
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An unfortunate happened
One fine day, Rex met with an accident &
died
Huge psychological blow to the firm & other
partners
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Family of Rex
Rex’s family now wanted the Partnership share
back, as they don’t know the business and
moreover, they require funds to run the family
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The Surviving Partners were helpless
The surviving Partners – Rueben, Regina & Redd are not
in a position to purchase the shares at one go
They approached Bank for Business Loan, but bank,
with the loss of one critical partner were not confident
of giving a loan at this juncture
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No to Withdrawing from the Capital
They were unwilling to withdraw money from the
Capital, as it will eventually affect or even kill the
business in the long term
So, they requested Mrs Rex to provide some time
to buy the share
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Unable to wait, Rex’s family sold the
shares to Mr Roy
Now, a new & unknown partner named Mr Roy, who
doesn’t know anything about the Business or Culture
entered the firm in his authority as a Business Partner
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Roy’s interference
Now, Roy started interfering in Operations and it
affected the Business
There was a huge incompatibility between Roy &
existing partners and eventually, the effectiveness &
productivity of the Organization had diminished
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Now, let us rewrite the Story
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ABC Corp is flourishing as Partners formed
a great team
Rueben
Regina
Rex
Redd
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Invested in a Partnership Insurance
They invested in a Partnership Insurance, where all
Partners are equally insured for One Crore
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An unfortunate happened
One fine day, Rex met with an accident &
died
Huge psychological blow to the firm & other
partners
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The firm received Partnership Insurance
Due to the sudden demise of Rex, the firm
received One Crore from the Insurance Company
as Business Income
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Family of Rex
Rex’s family now wanted the Partnership share
back, as they don’t know the business and
moreover, they require funds to run the family
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Surviving Partners were strong
The Surviving Partners were strong, as they had a surplus fund of
One Crore.
So, they called Rex’s family to the Office and communicated their
intention to make her as a Business Partner and continue the
operations in a similar way
They also assured her of a job role, so that there is no financial
struggle for the family
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The Business flourished further
As Mrs Rex agreed to the proposal, they reinvested
the money received through Partnership Insurance
in the firm
The Business flourished further
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The Business Survived the most difficult phase
ABC Corp survived the most difficult phase, as they had
invested on a Partnership Insurance.
As they have a surplus fund, tomorrow, if any other Partner
want to withdraw the partnership share back, they can use
the fund to give it back, so that any point of time, no one
external enters the firm with equal partnership shareAn Empower Now Initiative
What is Partnership Insurance?
Partnership Insurance is insuring all Partners equally or
proportionate to their economic value. In case, if there is any
loss of life, the firm receives the insured amount of the
respective partner.
The money received is purely Company’s fund and no
individual or family can own or claim it is theirs.
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Insurance Claim
The insurance claim received will be considered as
Business Income for the Company
It is the prerogative of the Organization to use the
claim received as appropriately for the Organization’s
benefit
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Why Partnership
Insurance?
It is also referred as
Capital Protection Plan
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Coverage
As 70-75 of age is considered as a normal retirement age of
Business Owners, we can provide a choice to take the
Partnership Cover till 75 years of the Insured’s age
The policy is issued only after the proposal meets all the
underwriting guidelines. Only eligible Companies can apply.
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Happy to offer
this Solution
from India’s
Most Trusted
Brands
Highest Credibility
Highest Solvency Margin
Best Claim Settlement
Ratio
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Quote – One Crore / Person (3 Crores coverage)
comes at a cost of Rs. 72,000/- per year
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Quote – Two Crores / Person (6 Crores coverage)
comes at a cost of 1.44 Lacs per year
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The Premium paid can be claimed as a
Business Expense under Section 37(1)
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Kind Note
The quote mentioned here is tentative
Once you are ok with the proposal, then, we will
send a customized quote for each partner specific
to their Date of Birth
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Partnership Firms not having
Partnership Insurance is
equivalent to traveling a
long drive without a spare
tire
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Please reach us for a detailed information on Partnership Insurance, Key Man Insurance, Employer Employee Insurance & as well as for New Age Term Insurance Plans.
Phone: +91 7575804114
Mail: business@empowernow.group
Website: https://empowernow.group/
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We don’t sell Products; we offer Sustainability
Assuring our Best Services Always
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