Business Protection

All businesses, whether large or small, are heavily dependent on one important asset – theirpeople. If one of the key people or business directors were to become seriously ill or die, the company may encounter serious problems and issues may arise over shares of the business. Business Protection is designed to offer a solution to problems and hardships that may arise.

  • Keyperson Insurance provides an immediate lump sum payment on the death or specified illness of the individual insured under the policy.
  • Arranging Partnership or Co-Directors Insurance, along with creating a Buy/Sell Agreement, means that the surviving partners can buy the deceased’s share at a fair price from the deceased’s estate and the next of kin are not locked into the company.
  • With Company Buy Back Insurance, the company arranges life assurance and enters into a Contingent Purchase Contract (Double Option Agreement) with each shareholding director so that in the event of their death, the company acquires an option which obliges the deceased’s next of kin to sell their shares back to the company or the company to purchase shares from them at a fair open market value.

Pension Term Assurance

Pension Term Assurance is a type of life cover that pays your estate/dependants a guaranteed lump sum if you die before retirement. The advantage of this type of life cover is that, because you receive tax relief on your premiums, it offers real value to you. Pension Term Assurance is only available on a single life basis, it does not protect your partner’s life. Depending on your employment status, you may be eligible for either Personal Pension Term Assurance or Executive Pension Term Assurance.