Personal & Business Protection
(Insurance policies for you, your family and your business)

Often the most overlooked aspect of financial planning, protection, is actually a great place to start. Knowing that you, your family, or your business are protected, doesn't have to be expensive, and will provide a solid foundation for further financial planning. We will help you to understand any vulnerabilities in your financial situation and recommend a personalised solution. 

 

Generally, these plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Term Assurance

Term assurance is a form of life insurance and is normally taken out to provide a tax free lump sum on death, to provide financial assistance to those left behind or to protect a liability, such as a mortgage. We will analyse your situation, identify any shortfalls or areas in which you may not be protected, and recommend a solution.

Strategy Wealth - IFA, Personal & Business Protection

Critical Illness Cover

Critical Illness Cover (CIC) can be taken out on a standalone basis, or combined with a life insurance policy. It is designed to pay out a tax free lump sum to assist financially should you be diagnosed with a health condition as defined in the policy terms & conditions. The money can be used to make alterations to your property if you have additional needs as a result of the illness, or perhaps repay the mortgage to take the pressure off. You do not need to be terminally ill or pass away from the illness for a claim to be made. 

Relevant Life Cover

Relevant Life Cover is a type of life insurance policy that is specifically designed for small businesses and their employees or directors. One of the key benefits of Relevant Life Cover is that it can provide tax benefits for both the employee/director and the company. 

 

The premiums paid for the policy are treated as a business expense, which means that they can be deducted from the company's taxable profits. This can help to reduce the amount of corporation tax that the company has to pay.

 

For the employee/director, the premiums are not treated as a taxable benefit in kind. This means that they do not have to pay income tax or national insurance contributions on the premiums. This can provide a significant saving compared to taking out a personal life insurance policy.

Family Income Benefit

Rather than a lump sum, Family Income Benefit (FIB) is a life insurance product that will provide a tax free monthly income on death, to the chosen policy beneficiaries. This is a very affordable way to protect your family if the worst happens. Often this type of policy can be taken out in conjunction with a term Assurance policy for complete protection.

Key Person Cover

Key Person Insurance is an important tool that Company Owners can use to protect their business in the event of a key employee's death or disability. This type of insurance provides financial support to the business, allowing it to continue operations without the key employee's contributions. 

 

One of the significant benefits of Key Person Insurance is the tax advantages it offers. Premiums paid for this type of insurance are generally tax-deductible, reducing the business's taxable income. Additionally, the proceeds paid out in the event of a claim are typically tax-free, providing a valuable source of income to the business without incurring additional tax liabilities.

Income Protection Cover

Income Protection Cover provides a regular income in case you are unable to work due to illness, injury or disability. This cover ensures that your income is protected, and you can maintain your lifestyle and meet your financial obligations. Any claim will be tax free and will calculated as a proportion of your normal income.

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Strategy Wealth Uk Ltd is an Appointed Representative of ValidPath Limited which is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 197107. Strategy Wealth is a trading name of Strategy Wealth Uk Ltd which is registered in England and Wales no. 14838686. Registered office 45 Tanwood View, Bodmin, Cornwall, PL31 2PN. Directors: David Ellicott & Michael Rowan.

The information and guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

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