You do it to yourself you doRelevant Life Insurance
How you can have share protection as a one person limited company. If you ARE your business.
So think about this:
At a 15 times income multiple, if you have an income of £33,333 you can have a relevant life insurance policy for £500,000. Paid for by the company, full corporation tax relief on the premiums. It doesn’t count as a P11D, the proceeds go to your beneficiaries tax free by way of a flexible business trust! Tell me that is not a no-brainer!
Ok Martin, that’s all great but where’s the witty rock and roll analogy! Ok, it’s all about arse covering. I stopped being in a band when my wife became pregnant with our first born, Felix. I was happy suffering for my art but I wasn’t prepared to let my unborn child suffer for my dreams. Hence the logical move into financial services. It’s the same in business, there is risk. A relevant life insurance policy can mitigate that risk and if the worst happens, and you pre-decease your business, your loved ones won’t be left suffering for your dream.
Head Honcho at Business Protect
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I’ve spent half my life working in Rock ‘n’ Roll so why would I want to put out a blog about business protection insurance…?
If you own a business often you are the business. Without you it will cease to function. That’s where a relevant life could be relevant to you.
It’s a slightly surprising (to me anyway) fact that there are more pet insurance policies than critical illness policies in the UK.
What would happen to the crowdfunders investments if the key people driving the businesses weren’t there anymore?
Partnership protection insurance for a partnership is like saying you need legs on a body, strings on a guitar, a helmet on a motorbike.
As an Relevant Life Insurance specialist I keep tabs on the current mortality rate. I checked yesterday and it’s still running at 100%.
I wouldn’t use a GP for my brain surgery operation and I wouldn’t use a generalist practitioner for my business protection…you might get it right…
It’s all a rip off right? Insurance never pays out. I’ve never had anything go wrong with me for the last (insert arbitrary number of years) so why do I need it?