Why Ltd Company Directors need Executive Income Protection
Adrian Benjamin
?? Award Winning Business Protection Adviser who helps Ltd Company Directors protect themselves, their families ?????? and businesses without the stress by analysing their financial risk?? | Advisor of the year??|
As a Limited Company Director, you play a crucial role in the success of your business. However, the unexpected can happen at any time, and a serious illness or injury can prevent you from working and earning an income. This is why Executive Income Protection insurance is an essential consideration for Limited Company Directors.
Financial Security - The primary benefit of Executive Income Protection is financial security. If you are unable to work due to an illness or injury, this type of insurance can provide you with a tax-free income to help cover your expenses and support your lifestyle. This can be especially important for Limited Company Directors, as their income is often the sole source of financial support for themselves and their families.
Coverage for a Wide Range of Conditions - Executive Income Protection provides coverage for a wide range of conditions, including both physical and mental illnesses. This means that you can be protected in the event of a variety of scenarios, from a serious injury to a long-term illness like cancer.
Flexible Coverage Options - Executive Income Protection also offers flexible coverage options, so you can choose the coverage that meets your specific needs. This includes choosing the length of the policy from 1 year all the way until you retire. The amount of coverage you would like to have, and the waiting period before coverage begins.
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Tax Benefits - Executive Income Protection offers tax benefits. Additionally, premiums for the policy are typically tax-deductible business expenses, which can help to offset the cost of the coverage.
Peace of Mind – Executive Income Protection provides peace of mind for Limited Company Directors and their families. Knowing that you will have financial support in the event of an illness or injury can help you to focus on your recovery and return to work, secure in the knowledge that your financial future is protected.
In conclusion, Executive Income Protection is an essential consideration for Limited Company Directors. With its range of benefits, including financial security, coverage for a wide range of conditions, flexible coverage options, tax benefits, and peace of mind, Executive Income Protection is a smart investment that can help to ensure the financial stability of your business and your family.
Financial Protection Advisor and Estate Planning Consultant.
5 个月I’m a big fan of Executive IP. No P11d implications. You can cover pension contributions, NI and up to 80% of your salary including dividends, and in some cases spousal dividends, if they don’t have an active role in the business. My understanding is the money is paid to the business though, so there maybe tax implications when paying the salary.