Business Protection

Busy Business Owner - Mark

Mark had built up a successful packaging company with two other directors and shareholders. He loved his job and was proud of what they had built up together. He worked long hours and the weeks and months just flashed by. Some worrying thoughts, however, had started to bother him. What would happen to the business if he or one of his business partners were to become seriously ill or even die? How would his family survive financially if he were no longer here?

We did a thorough audit of the business and advised Mark to put life assurance and business protection in place. We explained that a ‘relevant life insurance‘ plan is available to salaried directors as well as employees and means that a death in service benefit would be paid as a lump sum to the individual’s family or financial dependants, in the event of death or terminal illness. What Mark hadn’t realised was that business insurance also counts as a legitimate tax deductible business expense. We also highlighted how important it was to put shareholder protection in place.

This all enabled Mark to get back to the day to day running of his business, with renewed peace of mind.

Life Assurance plans typically have no cash in value at any time and cover will cease at the end of term. If premiums stop, then cover will lapse