At PWG our goal is to analyse a business and secure, correct and adequate coverage it for your business. Our tailor-made products are suitable for all types of business.

PWG can provide cover for:

It is common practice for persons with a common business interest to agree to purchase each other’s interest in the event of the death of either one of them. An agreement of this nature will ensure that the surviving party or parties will retain control of the business and allow the business to continue functioning smoothly. The finance required to fund the purchase is, in most cases, provided by the proceeds of a life assurance policy, hence the term "buy-and-sell" assurance.

Keyman insurance is an arrangement whereby an employer ensures the life of a key employee for the purpose of compensating for the loss of income that the employer would suffer in the event of the employee’s death or disability thereby ensuring the successful continued business operation.

This plan is a variation of Keyman assurance. It is designed to protect a company against the potentially disastrous effects of the death of a director/shareholder who has secured certain loans or credit facilities on behalf of the company and, in addition, protects the deceased director/shareholder's estate from a claim by the creditor.

Most private companies (including close corporations) are compelled to use the personal assets of its director/shareholders to secure loans and credit facilities. This will very often require the director/shareholder acting as surety and co-principal debtor. The death of the director/shareholder could result in the loan or credit facility being re-negotiated or terminated. In addition, the director/shareholder's estate could be adversely affected as a result of the obligation assumed. As surety and co-principle debtor, the creditors would be entitled to look to the deceased estate for repayment of the loan or cancellation of the facility. In this respect a deceased estate is a soft target because it is usually quite liquid. Should a creditor lodge a claim against the deceased estate this will clearly disrupt the deceased’s estate planning and in all probability will cause a major liquidity problem? Contingent liability assurance ensures that the company has sufficient resources to settle such claims and protect the deceased estate.

A contingent liability arises when one or more co-owners sign surety for the loans or other credit facilities of the business. The co-owner/s will therefore be bound jointly and severally for payment of the debt incurred by the business.

A Sinking Fund is the name given to a fund raised by investing money for the purpose of raising capital to pay off a particular liability upon a known future date, or to acquire a new or replace an old asset. An example of the debts for which a sinking fund could be created include the repayment of debentures or preference shares, mortgage bonds and loans. The assets replaced from sinking fund proceeds would include depreciating assets such as plant, machinery and motor vehicles.