If you are a business owner you should consider the impact that the death or illness of a Director, Partner, Key employee or Shareholder could have on your business.
Protection arrangements can be structured and the relevant agreements put in plan to ensure that the company can continue to function if the worst happens.
Business protection is a very broad subject and good advice and planning is crucial.
Are you a Company owner? If so, Relevant Life cover can work out much cheaper than a typical life assurance policy for you or your employees. In most cases the premiums are treated as an allowable business expense by HMRC which means that companies qualify for Corporation Tax relief. Furthermore, there is no additional Income Tax or National Insurance to pay either.
Today, 1st March 2011, the unimaginable has happened. The European Court of Justice has ruled that Insurers cannot charge different premiums to men and women. The effects of this ruling will be far reaching and will take effect from 21st December 2012.
How would you like to have your Company pay for your life cover? If you are a Company owner, you could set up a life assurance policy that is funded by your Company. The monthly premiums will usually be treated as a company expense and claims will be tax free.
When my wife and I were looking for advice on retirement financial planning a few years ago, Barry was recommended to us by another IFA, who no longer provided that type of advice. Over the last few years, Barry has provided us with very good financial planning advice, tailored to our particular needs and attitudes to financial risk. He contacts us regularly to update us with the latest information and to see if our needs have changed but leaves the final decisions to us, i.e. he does not try to push a particular financial product or company. We have been very pleased with his advice to date and look forward to continuing our association with him.