- 52% of businesses think they would cease trading in under a year after the death or critical illness of a key person
- Only 18% of SMEs have any insurance to cover key people
- Nearly 50% of businesses have no specific arrangements for their shares if a shareholder died
- 69% of businesses have never heard of the Relevant Life Plan
Ask yourself these questions:
- Does my business rely heavily on one or more key individuals?
- Could my business survive without those individuals?
- What could go wrong if a business owner were to die or be diagnosed with a critical illness?
- How would I retain control of the business?
- Do I have a written agreement in place as to what would happen?
Would your business survive without Business Protection in place? What impact would it have on your business if a key person died?
Put Life Cover on expenses
Our Relevant Life Plan can work out much cheaper than a typical life policy for you or your employees. In most cases premiums can be treated as an allowable business expense by HMRC so companies qualify for Corporation Tax relief and there’s no additional Income Tax or NI to pay either.