Business Protection

A Relevant Life Plan is a Life term assurance available for employers to provide an individual death in service benefit for an employee. Proceeds go to the family of the employee.  

Directors and any employee of a company. Small and medium businesses can attract and reward staff if they provide benefits packages which are also tax efficient. There’s corporation tax relief and no NI contributions for the employer or employee and no benefit in kind for the employee. 

To ensure the continuity of the business it is important that all shareholders insure each other and sign a legal agreement to ensure they all agree what happens should any shareholder become critically ill or die. Without this the surviving shareholders may struggle to continue the business or even to retain control of it, especially if the deceased has left his shares to their family. A legal agreement alongside a Life and/or Critical Illness policy can provide the funds to ensure the business can purchase the deceased’s share of the business from their estate 

Any company with more than one shareholder.

A group life scheme is a very affordable way to provide life cover for multiple employees.

All businesses who want to provide cost effective life cover for their employees. Small and medium businesses can attract and reward staff if they provide benefits packages which are also tax efficient. Any claim paid goes to the family of the employee. There’s corporation tax relief and no NI contributions for the employer or employee and no benefit in kind for the employee.