This would depend on your specific business needs which we would discuss together. This could be a multiple of profits, a multiple of salary or turnover. Your accountant would be able to provide this information to you.

We recommend you speak to your accountant who will help to establish the value of the business. The amount of cover should equal the market value of each owner’s share of the business.

It is a life insurance where critical illness cover can also be included to protect your business against the loss of profit should a key employee pass away or be diagnosed with a critical illness. You can also protect against the loss of a key employee to protect a debt, and it could also help towards the costs of employing and training new personnel.

Key employees can be regarded as individuals whose knowledge, skills, experience, key relationships or leadership are very important to a business’ future financial success.

These can be a senior manager, top sales person, technical specialist, business founder.

Shareholder protection is a life or life and critical illness policy that will pay out a lump sum that the remaining shareholders use to purchase the deceased shareholders shares from their estate.

Directors could take out the cover to provide a ‘death in service’ benefit, without having to take out a scheme to cover all employees. It helps to retain employees and ensure should the worst happen, their loved ones are financially cared for.

It is a term assurance available for employers to provide employees with a ‘death in service’ benefit. It provides a lump sum payment on death and there can be many tax advantages to both the employer and employee for this type of policy.

No National Insurance contributions on premiums and corporate tax relief for the business itself. For their employee there will be no National Insurance contributions on premiums or benefits. The benefits are not taxed as a benefit in kind and importantly the benefits do not count towards annual or lifetime allowances tax benefits.

UK resident businesses. These businesses can be a limited companies, a limited liability partnership or sole trader.

Company directors can take out cover with the limited company paying for this.

The cost would be dependent on the amount and term of the cover, age, smoking status. Please contact us for a personalised quote.