Relevant Life Cover
Relevant Life Cover is a company‑paid life
insurance policy for
individual employees or directors. It pays out a lump sum to their
family if they die while employed. Premiums are usually treated as a business expense and are typically tax‑efficient.
Key purpose: Providing death‑in‑service benefits in a tax‑efficient way for directors and employees.
Business Loan Cover
Business Loan Cover is designed to repay
outstanding business loans if a director or business owner dies or becomes critically ill. Cover can be arranged to match the amount and duration of the loan.
Key purpose: Protecting the business and surviving directors from financial strain caused by unpaid borrowing.
Shareholder Protection
Shareholder Protection ensures that if a
shareholder dies or
becomes critically ill, their shares can be
purchased by the
remaining
shareholders. This is typically supported by life and/or critical
illness cover alongside a legal agreement.
Key purpose: Maintaining control of the business and providing fair value to the departing shareholder’s family.
Key Person Life and/or Critical Illness Cover
Key Person Cover provides a lump sum to the business if a key individual dies or suffers a critical illness. The payout can help cover lost profits, recruitment costs, loan repayments, or short‑term cashflow issues.
Key purpose: Protecting the business from financial disruption caused by the loss of an essential person.
Executive Income Protection
Executive Income Protection is a company‑funded policy that provides income to an employee or director if they cannot work due to illness or injury. Benefits are paid via the company, which can make it more tax‑efficient than personal income protection.
Key purpose: Supporting senior staff and directors while managing costs and tax efficiency for the business