People
It is often said that your people are your biggest asset but,
do you protect them and your company from the loss of key
personnel? Our specialist Life advisors help you
develop the right plan for your people.
Business Services
Key Person Insurance
|
Key person insurance provides a cash injection to the business
in the event of the death or disability of a key individual. The
policy is owned by the business with an benefit being payable to
the business. The premiums are classified as a business expense and
as such are tax deductible. Any benefit paid would be classified as
taxable income. |
Shareholder
Protection
|
Shareholder Protection Insurance provides the funding for
surviving shareholders to purchase the shares of a shareholder who
has died or become "dead to the business" as a result of serious
and permanent disablement. |
Business Loan
Protection Insurance
|
The owners of small and medium sized businesses often carry a
heavy liability for business loans. They may be required to use
personal property (e.g. the family home) as security for the loan.
Or, they may be required to provided a 'personal guarantee' which
means that, if something goes wrong with the business, the lender
can required them to repay the money personally. Further, 'joint
and several liability' can throw the whole liability on to one
person, where two or more people may have guaranteed the loan at
the start.
Business loan protection insurance makes sure that, in the event of
a shareholder or 'guarantor' dying prematurely or becoming
disabled, funds are available to pay off the loan and discharge the
personal guarantee. |
A Disclosure Statement for each of the advisers listed is
available on request and free of charge.