Types of Business / Corporate / SME Insurance

Key Person Cover

Protects the business in the event of death or serious illness of a key member of staff within a business. Provides a lump sum payment which is made to the business to cover disruption/recruitment, as well as to protect against impact on revenue or loss of profits.

Shareholder / Partnership Protection

Provides a payout in the event of death or serious illness of a shareholder or partner within a company. The proceeds of the policy can be used to fund the purchase of the shares from the deceased family or beneficiaries. This ensures that the deceased’s family receives fair value for the shares and also ensures business continuity while protecting the remaining shareholders investment.

Loan Protection

This cover provides a payment to protect a loan that can be recalled in the event of a death or serious illness of an owner/director/shareholder within the business, thereby protecting the individuals family from taking on the loan and the operations of the business.

Relevant Life Cover

Business owners, directors and employees are able to run personal Life cover through a limited company in a tax efficient manner. The business pays the premiums and the benefit is paid to the individuals family. There is no P11D/Benefit in Kind and the policy is placed into trust and therefore the proceeds are paid tax free. The business can claim 100% of the premiums against Corporation Tax. Similar to Group Life Cover, however each policy is structured on an individual basis, allowing flexibility and portability to take the plan with them, should they leave the business.

Executive Income Protection Policy

Pays the business a monthly benefit if due to illness, accident or sickness, an employee is unable to work. The benefit is then used to pay them replacement taxable income through the PAYE system, whilst they are off sick. Premiums can be offset for corporation tax and are not treated as a P11D/Benefit in Kind. The payment period will be for the entire duration of the plan, or when the plan expires which is normally in line with the employees state pension age. This benefit is designed to compliment a company’s sick pay policy and the employees entitlement to this.

Group Income Protection

Aims to provide an income for an employee when they are unable to work for a period of time as a result of illness, injury or incapacity. As well as providing financial support, this benefit can help manage long term sickness absence. Premiums can be offset for corporation tax and are not treated as a P11D/Benefit in Kind. The payment period will continue until the employee returns to work or for the entire duration of the plan which is normally in line with the employees state pension age. This benefit is designed to compliment a company’s sick pay policy and the employees entitlement to this.

Group Life Cover

Provides an employee with a multiple of salary as a tax free lump sum in the event of their death. This provides financial security and peace of mind to their family or loved ones, knowing that any mortgage debt, financial liabilities, loss of income can be covered. This cover is not treated as a P11D/Benefit in Kind.

Group Critical Illness Cover

Provides an employee with a multiple of salary as a tax free lump sum in the event of them being diagnosed with one of a predefined list of illnesses, such as cancers, heart conditions or strokes. The lump sum can potentially be used to pay off mortgage debts, maintain cost of living and/or access pioneering medical treatments.

Dental Plan

Dental plans can be offered to your employees and provides assistance to cover costs of preventative and restorative treatment. The plan also provides comprehensive oral cancer cover. There are various levels of cover that can be selected to allow you to offer the correct level that suits your business and staff.

Group Private Medical Cover

Providing your employees with fast access to high quality private healthcare, including private hospitals, specialists, GP, consultants, diagnostics and treatment, eliminating waiting times on NHS. This provides employees (and family) with choice, flexibility and speed over their chosen treatment pathway from initial diagnosis all the way through to recovery. The cover can include Mental Health cover and a range of benefits to support staff members returning to work.

Cashplan

Cash plan will give your employees money back for everyday healthcare costs such as visits to dentists, opticians, physiotherapists, and even health checks. Employees can simply claim back the costs of dental check-ups, fillings, eye tests, physiotherapy, prescriptions and much more up to an agreed limit.

Available as a employer or employee paid health benefit.