Asset Protection Cases
Case 1: Key Person Business Liabilities Protection
Amy, Ben, and Candy are shareholders and directors of ABC Company. The bank values the professional expertise and reputation of Amy and Ben in the industry, and Candy used her private property as collateral to obtain a HK$3,000,000 operating capital loan from the bank. If Ben were to pass away, the bank would need to reconsider whether to lend the HK$2,000,000 prepared as funds for development.
Insurance Benefits:
- ‧ ABC has insured Ben for a coverage of HK$5,000,000 for the company's loan amount
- ‧ The company receives compensation from the insurance company
- ‧ The company can have sufficient funds to repay the loan and continue with development plans
Asset Protection Cases
Case 1: Key Person Business Liabilities Protection
Amy, Ben, and Candy are shareholders and directors of ABC Company. The bank values the professional expertise and reputation of Amy and Ben in the industry, and Candy used her private property as collateral to obtain a HK$3,000,000 operating capital loan from the bank. If Ben were to pass away, the bank would need to reconsider whether to lend the HK$2,000,000 prepared as funds for development.
Insurance Benefits:
- ‧ ABC has insured Ben for a coverage of HK$5,000,000 for the company's loan amount
- ‧ The company receives compensation from the insurance company
- ‧ The company can have sufficient funds to repay the loan and continue with development plans
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