“Dr V & Dr R were Private practice GPs operating as limited company directors with 50% shares. They also had a residential mortgage and young family. They wanted to review their income protection requirements and ensure they were sufficiently covered should they be unable to work or in the event of death. After reviewing their circumstances, we advised that they take Executive Income Protection and Relevant Life Insurance due to the tax efficiencies available. We arranged appropriate policies to provide cover to their expected retirement ages. This was a straightforward case with no medical or health conditions; however, it required medical screenings due to the value of cover required. The entire process was completed within a week (including the Screening).
They had peace of mind knowing their incomes would be protected and a cash sum would be paid to their beneficiaries, should either pass away. “

“Mr A and Mr B were self-employed shareholding directors operating a recruitment company. They wanted to protect their company profits in the event either suffered from critical illness or unexpected death.
Additionally, they wanted similar levels of cover for Miss C, their Head of sales, who was not a company director or shareholder but contributed significantly to the ongoing success.
The directors wanted enough liquidity to hire a replacement, in the event they or Miss C were diagnosed with a critical illness or passed away. We reviewed their circumstances and proposed Key Person Insurance cover. They now have peace of mind that should any of them suffer critical illness or pass away their company profits will be protected.”

“Mrs J was the sole shareholding director of her Ltd. Company. She was in the process of opening her first nursery and had arranged a business loan with a high street lender who prior to approval had requested a life insurance policy to be in place to cover the loan amount. Mrs J had also provided a personal guarantee, should the debt not be repaid by the business. We arranged a business loan protection policy. The sum assured matched the amount of money borrowed providing peace of mind that should Mrs J pass away, the business loan could be repaid in full, and her family would not be impacted in any way.”

“ABC Company Ltd were a small to medium size firm of developers with 3 shareholders that has grown considerably in size and value in a short period of time. During an annual review meeting with their accountants, it was highlighted that no formal agreement was in place detailing what would happen to their respective shares in the event any of them passed away or became critically ill.
They consulted with their company solicitors and agreed that in the event one shareholder passed away, they would like the remaining shareholders to acquire the deceased’s shareholder’s interest. They also agreed that they would include an option for their families to sell their shares should they pass away. After their accountants had provided a valuation of the company, we advised them to take a shareholder protection policy on each of the shareholding directors. The sum assured for each policy equated to the current value of their shareholding in the business. The policies were then written into individual business trusts and the appropriate cross-option agreements were completed.
They all had peace of mind that should any shareholder pass away in the future, the sum assured would be paid to the business enabling the surviving shareholders to use the funds to buy the shares from deceased shareholder’s estate/family.”