As an Adviser for Freelance Financial we are able to offer advice and arrange policies for a wide range of Life Insurance, Critical Illness Cover and Income Protection policies from many providers. We offer both Personal and Business protection. Visiting you in your home or Workplace and covering Penrith, Carlisle, Keswick and the rest of North Cumbria.
Insurance products provided include the following. Please get in touch to discuss your insurance needs as we have a wealth of experience of providing insurance solutions for our clients and in some cases a mix of products may be the best solution.
Relevant Life Insurance
Company directors paying 40% personal income tax could save up to 52% on their life insurance premiums (up to a 36% saving for those on a 20% tax rate) when compared to having personal life insurance cover in place. This means that someone with a £50 a month personal life policy could save £7,800 over a 25 year term, by taking out relevant life cover instead.
Key Man Cover
Life insurance and/or disability insurance on one (or more) key persons whose loss or unavailability may cause loss of profit, goodwill, or increase in expenses. These insurance policies help finance the search and training of a successor, or compensate for fall in profits. Also called key employee insurance.
Most often, this insurance is purchased to aid the business in continuing to operate in case of the death or dismemberment of one partner. There are two plans most often used in partnership insurance. Under a cross purchase plan, each of the partners purchases life insurance on the other, with themselves listed as the beneficiary. If one partner dies, the surviving partner uses the payout of the life insurance to purchase the deceased partner’s interest in the company. This type of plan works best for a company with only two partners, while an entity plan works better for a team with multiple partners.
Freelance Financial is authorised by the Financial Conduct Authority
FCA Number: 762154
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