Make sure your affairs are in order and you leave a lasting legacy
Customers we have recently assisted include a couple who experienced financial difficulties because the husband was off work for 12 weeks due to a hip replacement. Unfortunately they did not have sickness and accident insurance so payments went onto credit cards and they are still repaying their debts. The monthly cost of the credit card payment significantly reduces the affordability calculator results...
Quite often you hear ‘it could never happen to me’ or ‘I’ll sort it out later’. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on protection.
As one would imagine, there are many types of Protection Policies to choose from. Finding the one that provides adequate cover and the right protection is not as easy as you may think. As Independent Mortgage and Protection Advisers’ we can help you find the one that best meets your requirements.
The success of your business can depend on those who own and run the business. Have you ever considered how your business would cope if a partner or shareholding director died?
It’s likely that the death of a partner or shareholding director would have a huge impact on the future of your business. The surviving partners or directors may struggle to continue the business or even to retain control of it. In the worst-case scenario, the financial strain may force the business to cease trading.
Similar problems could occur if a partner or shareholding director were to suffer from or be diagnosed with a critical illness. Your share in the business is likely to be one of your most valuable assets and you will no doubt wish to protect it for the benefit of your family.
Business protection can provide funds on the death of a partner or shareholding director. A legal agreement ensures that these funds are used to purchase the deceased’s share of the business from their estate. It is also possible for a similar payment to be made if one of the partners or shareholding directors suffers from or is diagnosed with a critical illness.
Please note the plan never has a cash-in value. You should regularly review your cover to make sure it still meets your needs If you would like to find out more about how we can help protect your business’s future, please call us to arrange an appointment.
Your employees are one of the most important resources for the future success of your business. Have you given thought to how your company would cope if a key member of staff were to die, be diagnosed with or suffer a critical illness?
The death or critical illness of a key person is likely to have a significant impact on your business. You could suffer a loss of profits, be unable to quickly recruit a suitable replacement and face significant disruption to your own business activities.
However, you can help protect the future survival of your business with Key Person Protection, which can help you financially cope with the loss of a key person.
Recruiting, motivating and retaining able staff is a key preoccupation of many businesses. Getting the rewards mix right is an important ingredient in successfully managing such staff. Remuneration menus made up of pensions, life insurance, tax efficient bonuses and benefits are common in well-managed businesses. But they require careful planning and selection depending on the type of business and the type of staff who are involved. What motivates and retains staff at an Internet start up business or a bioscience research operation may require a different balance than at a manufacturing business with a substantial production line workforce.
If staff are the keys to successful businesses then well founded and managed reward strategies are vital. Taking the right advice early on means that the right moves can be made without having to make them as the business goes along. The result should be contented and efficient staff who are confident that they are getting the best deal for their time and their labour.