Insurance Advice
Insurance policies are a key benefit offered by many businesses across the UK to their employees. No matter if that's covering the business itself from damage if a key employee dies, or if it's a private medical insurance policy that's offered as a perk of the job, there are many benefits to taking out these policies.
What We Do
Our financial advisers are able to provide expert advice when it comes to the policies that are available to you and your business. Many policies rely upon hitting certain criteria and it can be overwhelming to decide between the many different options available for cover. Their advice can help to minimise extra cost to your business and maximise the investment in your people.
Our Services
These policies are often considered employment benefits and as such can often be deducted from taxable profits, making them a financially sound option to many companies. Our team will analyse the different options available to you and help you make an informed decision on what will be best for you and your employees.
Group Death in Service Policies
A death in service policy is a benefit that many businesses choose to offer to their employees. It allows a lump sum of tax free money to help with the financial impact of losing a loved one to be paid directly to an employees family should they pass away. The policy proceeds are also often tax free, so the maximum benefit is passed on to the beneficiaries. Our team of financial advisers can help to evaluate all the options to find a policy best for your business.
Group Private Medical Policies
Private medical care is often seen as a fantastic benefit to offer to employees. There are many different types of cover available, some that offer private health as well as comprehensive mental health support, while others may offer specified critical illness cover to employees. Private medical care can also allow employees to see help faster if they fall into ill health than if they were relying on the NHS alone, which also helps to minimise the financial loss of having employees absent from the workplace.
Key Person Insurance Policies
Key person cover is designed to provide business protection should a key employee or business owner die. The loss of a key person can often result in lost revenue, be that through the loss of client relationships, not being able to access business funds, or the cost of having to hire and retrain a new key member of staff. Key person insurance helps to cover companies if they suddenly lose business key people. The criteria for these policies is often linked to the key person themselves, so it is highly recommended to seek the advice of a financial adviser to analyse all of the available options.
Relevant Life Insurance Policies
Relevant life insurance is a benefit that can be supplied to employees and their families in the event of their passing or if they are diagnosed with a terminal illness during their employment. Relevant life insurance provides a practical option to smaller businesses who may not yet find it worthwhile to invest in a group death in service policy, or employers who want to selectively provide this benefit. There are many options to consider, as well as several important considerations that your financial adviser can walk you through.
Looking to Protect your Employees?
Navigating the policies available to businesses can be incredibly complex, but our team are available to simplify the process, with the best interests of you and your employees in mind. Curious to learn more? Get in touch with a member of our team.
