Life insurance or life cover can be life-changing, giving you true peace of mind.
Life insurance provides a financial safety net for your loved ones by paying out a lump sum or a recurring income in the event of your death. This money can then be used to pay off debts, such as a mortgage, or to cover living expenses.
Nobody wants to think about the day that they will no longer be around. However, it’s critical to protect the things that matter, such as your loved ones, home, and lifestyle, in the event that anything unexpected occurs.
Life insurance can provide some peace of mind. It’s simple and quick to set up. It also doesn’t have to be costly.
If you pay a monthly premium, your family will get a cash pay-out if you die within the policy’s term. If you’re diagnosed with a terminal illness, you’ll get it sooner to alleviate financial worries (dependent on the terms of your policy).
This can be confusing for many people. Everyone’s protection needs are different, which is why it’s crucial to figure out which policy is best for you.
Whether you’re looking to cover the family mortgage or provide for your loved ones when you’re gone, we can help you protect your loved one’s future.
Relevant life insurance
Relevant life insurance is a policy purchased and paid for by employers on behalf of their employees. This is a cost-effective option for small businesses to offer death in service benefits, and it can help you attract top talent and give your current employees peace of mind that their loved ones will be taken care of if the unthinkable happens.
Relevant life insurance is a cost-effective option for businesses to offer group life insurance benefits including death in service.
Companies with fewer than five employees are unlikely to qualify for group life insurance, and even if they did, the policy wouldn’t be economically viable.
Company owners and directors can utilise appropriate life insurance to offer life insurance for themselves that is paid for with company funds rather than personal funds. The cover also provides tax advantages for the company because it may be claimed as a cost, lowering the corporation tax payment.
The peace of mind that comes with knowing that their loved ones will be well cared for, even if they can no longer support them financially, is the most evident advantage for employees.
Whether this is in the form of a death benefit or a payment if the employee becomes severely ill and is unable to work, knowing that their family will not be financially strained if the worst happens can relieve a lot of stress.
Employees may appreciate the fact that they are not responsible for paying for this coverage.
Executive protection insurance
Executive Income Protection Insurance is a type of business insurance that pays a monthly payment if an insured employee or director becomes unable to work due to illness or injury. It helps to alleviate the burden of long-term illness or accident, covering up to 80% of your income, whether it be salary or dividends, and is popular with contractors and directors operating in their own limited company.
The majority of executive income protection policies are written with an “own occupation” concept of incapacity in mind. This indicates that if you become too unwell to work or suffer an injury that prohibits you from functioning in your current position, your policy will pay out.
Executive Income Protection covers your salary in the event that you or your team suffers from a medical problem, excluding pre-existing conditions. This implies that if you are unable to work due to an accident or illness, you can file a claim on your insurance.