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Expert Business Protection - My Insurance Hub

Protecting shareholders and employees against the financial consequences of the unexpected with business insurance to suit your circumstances.

Key Person and Relevant Life

Key Person

Cover the loss of profit caused by losing key employees to death or critical illness

  • Can be life only or life with critical illness
  • Tax free benefit
  • Corporation tax deductable
  • Guaranteed premiums
  • Benefits are paid to the company

Statistics show only 28% of UK business’s established in the last two years have any kind of business protection. Yet 46% would cease trading immediately if a key person was lost due to passing away or illness

Potential tax savings on Relevant Life compared to normal life insurance

Information regarding tax levels and basis of reliefs are dependent on current legislation. Individual circumstances are not guaranteed and may be subject to change.

Relevant Life

A tax-efficient form of life insurance, allowing companies to provide a tax free lump sum benefit to employees on death (including salaried directors).

  • Paid by the business
  • Often used by company directors to provide their own death in service benefit
  • Employer premiums usually treated as allowable expense by HMRC
  • Won't form part of employee's lifetime pension allowance
  • Lump sum free of income tax and usually Inheritance Tax
  • Up to 25 employees on one plan
  • Can move with employee if needed
  • Terminal illness included

Shareholder Protection Insurance

What is Shareholder Protection?

Life Insurance designed to ensure that the aftermath of a shareholder's death is as smooth and stress free as possible. Shareholder protection helps you protect the ownership of the business by providing money to purchase the shares of the deceased.

  • Support for family members who would usually prefer to receive money than shares
  • Peace of mind for shareholders
  • Provides a stable business plan
  • Can be used to cover illness and disability
  • Provide stability - protecting the value of the business for all shareholders

Executive Income Protection Insurance

Executive Income Protection

Designed for small limited companies that do not have enough employees for a group scheme, or one man bands.

  • Can be used by directors of limited companies to pay for their income protection through the business
  • Protects an individual’s most important asset (their earnings)
  • A set business expense which will protect against long term absence
  • Higher benefit ratio of up to 80% of total earnings (Dividends and Directors Loans)
  • Employer paid pension contributions can be covered & employer paid National Insurance does not form a P11D on the individual (saving tax on the premium).
  • Ability to cover dividends being distributed to a spouse where the spouse is performing administrative duties only
  • Can be used to cover illness and disability
  • Provide stability - protecting the value of the business for all shareholders

You are 3 times more likely to go on long-term sick leave than you are to die during your working life.

Despite this many of us get life insurance to protect our families financially against death, only 10% of us have Income Protection to protect ourselves: the one insurance that will continue to provide a percentage of your salary if you go on long-term sick leave.1 in 5 of us are likely to go on long term sick leave during our working lives, however, the chances of recovery are now much better, with increasing numbers of people returning to work.

*Unum analysis, Group Income Protection schemes, 2011 & ONS Business Populations Report, 2013; Swiss Re Group Watch Report, 2012

Group Services

Group Life Insurance

Group life insurance (or Death in Service) is one of the simplest but most highly-valued employee benefits that a company can provide for its employees.

  • Tax free payouts for an employee's loved ones
  • Highly valued employee benefit
  • Help attract new employees
  • Improve the retention of existing staff
  • Demonstrates a duty of care as an employer

Group Health Insurance

Health insurance for corporations which can be customised to specific requirements

  • Help attract and maintain staff
  • Employer tax benefits - can help in reduce tax liability.
  • Low cost per person
  • No waiting period
  • No medical check ups required
  • Insurance offered to ALL members of the group, and so of great value to people who are looking for health insurance but cannot get it at an affordable rate because of their current health state.
  • Day 1 Maternity coverage
  • Optional extras like Dental and cost of spectacles

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