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Business Protection

Business protection is key to insure for the unexpected. It’s a way to safeguard your business if something goes wrong. The most valuable asset to any business is its people, without them, a company’s survival could be at serious risk.

What is Relevant Life Insurance and How Does It Help Me

Relevant Life Insurance brings two main advantages.   First, the cost of the monthly premiums can be claimed as a cost to your business. Which provides 100% corporation tax relief and no benefit-in-kind charge, second, if you employ other members of staff, you can cover them too. So, your managing director, HR manager, and receptionist could all benefit.​

The result is the best of both worlds. Fully comprehensive life insurance, for yourself, your family, and your staff. All the while, you claim the full cost of the policy back as a business expense.

Ultimately, this means you’re no longer paying for Life Insurance out of your own personal pocket. Which gives you a huge saving. Need we say more?

AM I ELIGIBLE?

So long as your limited company is in your name, you can apply.​

‘Sounds good’, you might say. ‘But I don’t have the time to set this up, let alone research all the companies and their various deals.’​

That’s something we understand completely and that’s where we at Mortgage Search can help.​

At Mortgage Search we save you cost and hassle at every turn. We are forever looking at ways to improve your cover.

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How Does Income Protection For Executives Work?

Executive Income Protection works in a similar way as a standard Income Protection policy, in that it provides a monthly income if someone is off work due to accident or sickness. However, the main difference is how the premiums are paid and taxed, as well as where the benefit is made.

The premiums for a policy are usually paid for via the limited company. This is tax efficient for business owners (we’ll explain this in more detail later). Once you’re off work longer than your chosen deferred period, the monthly payments begin. The payments will continue until you return to work, the policy ends, or you pass away.

When a claim is successful, the benefit is paid to the business. The monthly payment is then passed onto the claimant through your usual payroll method, such as PAYE.

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Key Person Cover

No matter how large or small your business is, you are vulnerable to losing key staff.

Key person insurance should be tailored around each individual company. There is no “one size fits all”. Many companies have one or two people who have a critical role.

Businesses may be a limited company, a partnership, a sole trader or a corporation. All of these, no matter what their size, rely on key employees for their profitability.

Within any business, however they’ve been set up, there are always one or more key personnel who are vital to the business. Arranging insurances for key staff is not the most exciting aspect, but may be essential for the livelihood of the business.

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Shareholder And Partnership Protection

It is vital that all partnerships check a suitable shareholder agreement is in place, otherwise your business could suffer.

Many partnerships believe that the business would pass automatically to their fellow partners on their death but this is not necessarily correct.

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Contact Mortgage Search

If you are requiring a mortgage quote, insurance quote or would like any further information, don’t hesitate to contact us on 07779605656.

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