What kinds of business protection do we offer?

Companies don’t think twice about protecting the assets of their business. But what about the most important asset – the key people that make it run smoothly day-to-day?

Box Icon Key Person Cover

Key Person Cover

Provides a financial safety net if a key member of the business dies or is diagnosed with a critical illness…

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Box Icon Executive Income Protection

Executive Income Protection

Designed for small to medium-size businesses looking to offer selected employees the benefits of an extended sick pay arrangement…

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Box Icon Share & Partnership Protection

Share & Partnership Protection

This cover helps business owners keep control of the company if one of them dies or is diagnosed with a critical illness…

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Box Icon Relevant Life Cover

Relevant Life Cover

A tax-efficient way for small businesses to offer death-in-service benefits to employees and salaried directors…

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What is Key Person cover?

Key Person Cover provides a safety net for a business in the event of losing a key person, through death or if they are diagnosed with a serious illness. The claim is paid back to the company or partners, helping reduce disruption to the business and continue as normally as possible.

A ‘key person’ is any member of staff who has a direct impact on the business’ profits. It could be the business owner, director, sales person or any employee with specialist skills or expertise. Key Person Cover is often referred to as ‘key man insurance’.

Benefits of Key Person cover

Box Icon Protect profits

Protect profits

Helps your business with the loss of a key person who influences revenue, by giving your company a cash injection to help replace lost profits.

Box Icon Helps with key person replacement costs

Helps with key person replacement costs

Helps with your recruitment and training costs, while replacing the loss of a key person.

Box Icon Provide an income to a key person

Provide an income to a key person

Provides an income to a key person if they become critically ill and unable to work. You can continue paying their salary whilst they are recovering.

Box Icon Cover by business type

Cover by business type

Cover is available for Sole Traders, Traditional or Ordinary Partnerships, Limited Companies and Limited Liability Partnerships.

What is Executive Income Protection?

Executive Income Protection is designed for small to medium-size businesses looking to offer an extended sick pay arrangement.

The plan pays a regular monthly benefit to the employer that can be passed on to the employee, to help with meeting the monthly bills and other financial commitments, in the event of injury or illness that leads to loss of earnings.

Benefits of Executive Income Protection

Box Icon Cover an executive’s salary and dividends

Cover an executive’s salary and dividends

Protection for business owners and executives PAYE salary and dividend payments if unable to work due to accident or sickness.

Box Icon Premiums paid by the company

Premiums paid by the company

Policies are paid and owned by the company and offer a monthly benefit to the business should an executive or director by unable to work due to sickness or injury.

Box Icon Cover up to 80% of gross income

Cover up to 80% of gross income

Policies can cover up 80% of the Executive’s gross income, this includes PAYE salary, dividends and can include pension contributions. Benefits paid are tax free to the company, but are subject to tax for the individual.

Box Icon Choose the benefit length

Choose the benefit length

Benefit can be paid up to a planned expiry date, such as an Executive’s expected retirement age, or for a fixed period such as 2, 3 or 5 years.

Free Business Protection Quote

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What is Share & Partnership Protection?

Share and Partnership Protection helps business owners keep control of the company if one of them dies or is diagnosed with a critical illness. Losing an owner can have a huge impact on the day-to-day running of a business, and can quickly result in financial difficulties.

Share & Partnership Protection covers the business and remaining partners by providing funds so that they can to retain control and ownership of the business.

Benefits of Share & Partnership Protection?

Box Icon Help retain control if a partner were to die or become critically ill

Help retain control if a partner were to die or become critically ill

If the shares are sold on the open market, a new business owner could take-control of the daily running of the business. That new business owner could be a competitor or completely unsuitable for the business.

Box Icon Funds available to help buy out the deceased's partner’s shareholding

Funds available to help buy out the deceased's partner’s shareholding

If the deceased owner’s family are willing to share the shares, the surviving owners could have trouble raising the finances and disagreements over the terms of the sale could lead to further difficulties.

Box Icon Retain confidence of employees and customers

Retain confidence of employees and customers

Retain confidence with employees, customers as well as banks and investors that the business will continue to trade as normal.

Box Icon Protection by business type

Protection by business type

Share protection is available for limited companies. Partnership Protection is for partnerships and limited liability partnerships.

What is Relevant Life Cover?

Relevant Life Cover is a tax-efficient life insurance policy, allowing companies to offer a death-in-service benefit to its employees. It’s set up by the company and pays out a tax-free, lump sum on the death (or diagnosis of a terminal illness) of the employee insured.

The proceeds go directly to the employee’s family or financial dependants.

Benefits of Relevant Life cover

Box Icon Corporation tax relief

Corporation tax relief

Counts as a tax-deductible business expense, as long as the premiums are wholly and exclusively for the purposes of the business.

Box Icon Added Employee benefits

Added Employee benefits

Provides individual death-in-service benefits to employees outside of a registered group life scheme. Can also cover for Terminal Illness Cover and Accidental Death Cover.

Box Icon Help employee engagement

Help employee engagement

Happier, healthier, more engaged employees that take less time off and are often more productive – helping you attract and retain the best people

Box Icon Tax efficient for both businesses and employees.

Tax efficient for both businesses and employees.

On claim pay-out, the cash lump sum is not subject to Income or Inheritance Tax. There are no National Insurance Contributions to pay on the policy payments paid to fund the policy.

Further Information