Business Protection

Relevant Life Policy FAQs

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 [...]

Relevant Life Policy Providers Compared

How To Calculate The Key Person Cover Required

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 [...]

Identifying a Key Person for Business Protection

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 [...]

Shareholder Protection Cross Option Agreements

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 [...]

Shareholder Protection Insurance Do You Need It?

The loss of a partner or shareholding director can have a major impact on the success of a business in terms of ensuring continued control for the remaining owners. However we also need to think of the effect on the dependants of a deceased owner, or the position of a critically ill owner who might [...]

Keyman or Key Person Cover Explained

Most businesses understand the need to manage the risks they face every day. They insure their premises, equipment and stock against fire, flood and theft. They insure their vehicles. But many don’t stop to think what would happen if they lost their most important asset – their people. The fact is many small and medium-sized [...]