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Business Protection

Stay in Control of Your Business

We can assist you with:

Key Person Insurance

Relevant Life Insurance 

Group Life Assurance

Private Health Insurance 

Losing a Business partner would be bad enough, but without funds to buy their share, you could find someone else in the driving seat. Losing a key person could threaten the financial stability of your business.

People are at the heart of any business and are responsible for its success.

Without business protection, the death or serious illness of a key member of staff could have a significant impact. In some cases, it could mean the business has to stop trading, affecting people’s livelihoods.

Key Person Insurance

Cover can be taken out on key members of staff including Directors to give your business capital if a key person gets a critical illness or dies. The plan is owned by the company and therefore the company will receive any claims directly. The premiums are paid by the company and are treated as a business expense, but this must be agreed with HM Revenue and Customs. Cover can include, death benefit, terminal illness benefit & critical illness.

Relevant Life Assurance

Cover can be taken out on a key member of staff including directors. The plan is owned by the company and is set up into Trust and any claims will be paid to the chosen beneficiary and not the company. This will be paid to the chosen beneficiary. The premiums are paid by the company and are treated as a business expense, but this must be agreed with HM Revenue and Customs. Cover can include, death benefit, terminal illness benefit & critical illness.

Group Life Assurance

What are the benefits of Group Life?

To the employer:

Helps to enhance the overall benefits package which will assist in attracting and retaining valued staff

Premiums will normally qualify as an allowable business expense It is important that you review and update your Group Life cover regularly to ensure that it remains appropriate for your needs.

To the employee:

Gives peace of mind knowing that their loved ones will be supported financially in the event of their death

As lump sums usually do not form part of a member’s estate, these can be paid quickly and are not subject to Inheritance Tax.

The insurance is not usually classed as a ‘benefit in kind’ for tax purposes

Private Health Insurance

Healthcare insurance is often called a variety of names including PMI (private medical insurance), private health insurance, private healthcare and private health cover.

Business health insurance provides healthcare cover for your employees to access private medical treatment and other health services with an aim to support them back to health and work quickly.

Essentially health insurance is designed to pay for private medical treatment when you need it. As the treatment is private you have quick access to eligible treatment in a private hospital or medical facility.

One of the key benefits is the convenience. Once you have a referral from your GP you can choose who you would like to see, where and when from a list of approved specialists and hospitals. For a business this flexibility helps minimise time out of the office.

Plans can be tailored to you and your employees needs by choosing from a range of cover options, so you’ve got the cover that’s right for your business.

Need help or advice with your finances?

We offer a free initial consultation!