As a Director or Business Owner, your main focus will be the growth of the business. The loss of a key person, director or employee, even if only for a short term, can have a large impact on a business. At Crystal Financial Solutions, our advisers provide bespoke solutions, recommending you the best products to suit your requirements and keep your business protected.
To ensure your business is protected, we show you the liabilities that you could face and explain to you in detail how we can cover them. Our process with regards to business protection includes the following:
How much revenue you would lose if a key person or director was to become critically ill or die?
Could I benefit from tax-efficient protection through the business than taking it out personally?
Could my employee’s families benefit from death in service cover?
Will the business survive if a partner dies or was unable to work?
What are the financial risks of not protecting the greatest assets of a business?
To understand the structural and financial circumstances of your business are and what you are looking to achieve
We will carry out research with all the providers to find the most suitable products
We will explain the options available, how they will help protect you, your business and your employees
We handle the whole process from start to finish making it seamless and hassle-free to get protected
Some of the Types of Business Protection Available
Relevant Life Cover
Relevant Life Cover is a tax efficient insurance policy that provides financial protection for directors and employees in the event of death. The benefits being paid tax-free to the family of the employee and not the business. Furthermore, insurance premiums are treated as an allowable business expense and thus lowering the net cost to the business.
Key Person Cover
A policy paid for by the business with benefits paid to safeguard the business, covering the loss of an employee dying or suffering a critical illness and therefore being unable to work.
Group Life Cover
Also known as death in service provides financial protection to the employees for businesses with 25 or more staff members. The benefits are paid to the family of the employee if they die whilst being employed.