Often taken out by Limited Company Directors in place of their personal life insurance, this protection is much like a death in service benefit.
It is paid for by the company and can cover any employee including Directors, should they pass away during their period of employment. Unlike death in service, relevant life cover is provided and underwritten on an individual basis.
The lump sum can be paid to any nominated beneficiary including the company or the policyholders family.
This product is much more tax efficient than personal life insurance and is exempt from Income Tax, National Insurance and Corporate Tax.
In all circumstances cover will be tailored to your businesses needs and it is essential that you appoint a broker that has the experience and ability to understand the variety of risks that you and your business can face.
Whilst the extent of cover must always remain paramount we understand that cost is an important factor in any decision making process, whilst at the same time providing a personal service to each client, understanding that one size does not fit all.
If you would like to review your existing protection or do not currently have cover in place, please contact us for more information.