It is easy for businesses that are fully focused on growth and expansion to forget how exposed they may become if the right sort of protection is not implemented.

The impact of losing a business partner or key employee through disability or death can destabilise a sound business model, certainly in the short term and possibly well into the future. The company bankers may be forced to rethink their support if the Sales Director or another Key Employee is suddenly unable to contribute to a business and no protection is in place.

Key Man life assurance and critical illness cover is easy to arrange, but it is just part of a complex process – the cover has to be structured in the correct way, the appropriate corporate agreements put in place and taxation issues have to be considered. This is the only way to ensure that the proceeds of any claim are paid to the right person at the right time and in the most tax efficient manner.

To make sure that this happens, our team will work in tandem with the client’s other professional advisers to create a bespoke solution that will protect the business throughout the growth, expansion and exit phases that most successful businesses will experience.

Many people don’t realise that there are now a range of more tax efficient life policies for business use and we will be happy to discuss these with you.

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