Directors Income Protection
The value of pensions and investments can fall as well as rise, you may get back less than you invested. Your home may be repossessed if you do not keep up repayments on your mortgage.
If you are a Director and / or Shareholder in a Ltd company and you are concerned about what might happen to your loved ones in the event that you cannot do your own job due to health reasons or injury, then you could benefit from taking out a Director Income Protection policy.
This is the same type of policy as a normal income protection policy but it can be paid for through the limited company, where premiums can be corporation tax deducted, subject to local tax inspector approval, or monthly sum assured can be tax free.
So, the main difference to a personal income protection policy is that the cost is covered by the business (pre-income tax) and the benefit is not taxable, i.e. not a P11D benefit.
We differ from other advisory firms in that we provide truly joined up financial advice, meaning that we understand what ‘financial planning’ comprises of, i.e. working with a quality financial adviser, accountant & possibly legal firm, depending on your requirements. We bring these threads together to join up the dots and ensure that nothing is missed from your business and personal financial plan.
For more information, please get in touch.