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Key Man Business Cover, Shareholder & Partnership Protection

Example: 30 year old with 20 years level term Key Man life insurance with Legal & General £8.20 premium per month. (17/3/14).

For a Free Quote….0844 683 7971

Key Person Cover protects against the financial consequences to a business that would otherwise result from the death or serious illness of someone who normally is employed by the business. Effectively, it is a loss of profits insurance. A key Person could be defined as ‘anyone with specialist skills or knowledge, or with particularly important areas of responsibility, whose loss to the business would adversely effect its profitability’. Such a person cannot easily or quickly be replaced and, whilst it is said that no one is irreplaceable, a business can suffer significantly during the time that it takes to find that replacement. Key Person Cover is designed to give businesses a cash injection in order that profits are effectively maintained while the best replacement is found.

Relevant Life Plans an individual death in service life assurance policy available for directors and employees. If the person dies or is diagnosed with a terminal illness whilst in employment during the term, the plan pays a fixed, one-off lump sum. To be eligible for a Relevant Life Plan the person to be covered must be an employee of the business, which can include directors on PAYE. Relevant Life Plans are not available for sole traders or equity members of a Limited Liability Partnership. Overall Relevant Life Plans can work out cheaper than a typical life policy for you or your employees as the plan may benefit from favourable tax treatment.

Ownership Protection

The loss of a partner in a partnership, or the loss of a shareholder director can have a major impact on the continued control for the remaining owners of the business, especially when a majority shareholding has passed to the deceased’s estate, or the family of a critical ill owner who is leaving the business. This can also be an issue for the estate or family that may not receive ‘fair value’ if they sell their share of the business.

Ownership protection is designed to:

* Enable the existing business owners retain control of their business

* Ensure that the estate of the deceased owner, or outgoing critical ill owner, gets ‘fair value’ for selling their business share

* Achieve this in a tax efficient manner

There are three main types of scheme used for this purposes – The Automatic Accrual Method, The Buy and Sell Method & The Cross-Option Method.

Avenue Financial Services is a trading style of Solihull Financial Services Limited, is an Appointed Representative of Intrinsic Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. Intrinsic Mortgage Planning Limited is entered on the FCA Register ( under reference 440718.



  • Our new Remortgage.. Thank you for all you help Kevin this really has been a smooth service for both Steve and myself. Stephen & Sue Clifford

  • Great thanks for all your help over the past few months it has been vital to me getting this house so thank you Kevin. B Hine  ...

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