The Directors and employees of a business may be interested in talking about financial security, so it’s worth thinking about insurance cover for their peace of mind:
Critical illness cover
Will pay out a one-off, sometimes tax-free payment that can be used to support an individual and their family if they get a serious illness and are unable to work.
Cover in the event of a critical accident, illness and death. If you work through a business, life insurance, sometimes called ‘Relevant Life’ can be provided tax efficiently through your business.
Save up to 37% by insuring through your business!*
As the director of a limited company, say your monthly premium for insurance was £30. You could pay this personally or from your company.
Premiums paid personally will be paid from your post tax income. That means that a £30 premium would actually cost you £39.75.
If you made a payment to a relevant life insurance policy from your company, the actual cost of your £30 premium would only be £24.30, saving you over £15 a month. That’s a 37% saving!
Income protection insurance
Should an individual be unable to work because of injury or illness, Income Protection Insurance pays them, usually until retirement, death or your return to work.