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Business Protection

Financial Advisors

 

Shareholder and Partnership Protection

If a business owner dies, their share of the business usually passes to their beneficiaries. To regain control of that share, surviving business owners may need to buy that individual’s part of the business. Many businesses don’t have the money to do this and it can be costly to borrow if this is even possible.
 

We’ll pay a lump sum if a business owner dies or suffers a terminal illness. This provides the capital to enable the surviving business owners to buy that individual’s share of the business – allowing them to keep control.

 

Key Person Cover

With many small and medium-sized companies, they are dependent on a few key people. Key Person Protection is designed to help protect your business in the event of death or serious illness, should either of these situations occur to one or more of your key employees.

If such an event happens, the plan pays out a lump sum to cover any loss in revenue or profits – helping to keep your business on track.

 

Relevant Life Policy

A Relevant Life Policy is a tax-efficient alternative to a “death-in-service” benefit that allows you to pay your key employees' family a cash lump sum if they die while employed by your company.

 

How a Relevant Life Policy Benefits You

You can save nearly 50% in tax compared to an ordinary life policy while also giving your employees a comprehensive benefits package through access to our exclusive discounts and rewards partners.

 

Who is a Relevant Life Policy Designed For?

Company Directors 

For Company Directors, a Relevant Life Policy provides a valuable tax benefit if their life insurance premiums are paid by your company.

High Earners

The benefits of Relevant Life Polices don’t count towards the current Lifetime Allowance of £1.25 million, above which tax is currently charged at 55% (on death).

Key Employees

A Relevant Life Policy can provide individual levels of cover so it's ideal if you only want to reward a few employees or provide variable cover.

 

Loan Protection

If a business owner dies or suffers a serious illness, lenders may have the right to demand that any outstanding loans are paid back. These could be difficult to pay off at short notice.

In the event that you lose a business partner, you may want or need to repay outstanding business loans. Some of the loans may have personal guarantees or may need to be repaid when someone dies. Our Business Loan Protection provides complete peace of mind as it provides a lump sum in order to cover your business loans.

 

Our Specialist Team

Get specialist Business Protection advice from the team of advisors at Inspire Financial, contact us today by completing the contact form on this page, or by calling our specialist team directly on 02477 790736.

 

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