Quotes4Life.co.uk an online life insurance broker who’s Logo reads “Financial Advice at Internet Prices” has recently launched a life insurance trust tool. The broker, who aims to bring traditional financial advice to the masses, says that it is one of a number of online tools to be launched in the coming months that will help [...]
A relevant life policy is the same as any other life insurance plan. The only difference is the rules that restrict the cover amounts and the trust that ensures that tax treatment is correct. Below is a list of the top FAQ that arise when it comes to relevant life policy insurance. The above questions [...]
The aim of calculating the amount of cover required for the keyman is to estimate the impact on the company’s profits. The business will need a cash sum to allow it to continue to trade or and replace the keyman. There is no hard and fast way. Insurable interest Below are some of the methods [...]
A keyman or keyperson is someone whose death or disability would have a serious affect on a company’s future profits. A business can have one or more employees who make a vital contribution to it’s profitability. The size or that persons shareholding or even if they are not shareholders at all will not necessarily indicate [...]
An appropriate agreement is needed between the shareholders for the disposal of shares on death or critical illness. It must not be a binding agreement for sale otherwise business property relief from inheritance tax will not be available. Further information on business property relief can be sought from your adviser. The business’s legal adviser (should [...]
