Time is precious and, like many business owners, you are probably too busy to spend it reviewing your protection needs. It’s worth noting however, that in 2013 the ‘gap’ in business protection across the UK totaled £1.35 trillion! (Legal & General Research paper 2013)
At CST Wealth, when working with a client we take their concerns into account, highlighting the key issues that could affect their business and make recommendations on how to protect it. In some cases we could also look at suggestions that keep your family from being adversely affected.
Here are a few questions that we could help you answer;
Do you know what would happen to a shareholder’s shares if they were to pass away?
Are there employees in your business who play a pivotal part in generating income for the business or increasing profitability? What would happen if anything happened to them and how much would it cost to replace them?
Are you paying for life cover personally? Relevant Life Plans (RLP) can be paid for by the company significantly reducing the cost of the cover. Also, RLPs are not a benefit in kind.