Most people think of wealth as the value of their savings, investments and assets. But the ability to keep earning an income is equally important.

Every year, around one million people in the UK unexpectedly find themselves unable to work due to injury or illness. As your financial advisers, we can help ensure that you and your family are financially secure should you become ill or die.

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With protection insurance advice from your Ermin Fosse financial advisers, you can be confident you have a safety net in place should the worst happen. What’s more, with our insight and expertise, we can help you safeguard your estate for future generations.

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We can advise on a range of Protection Policies

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Relevant Life

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Relevant Life Assurance offers corporation tax relief on certain types of life insurance premiums for employers and small businesses. It allows employers to offer death-in-service benefits (life insurance) to their employees without having to set up a registered group life scheme.

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Providing peace of mind, this type of plan is particularly beneficial to high-earning employees and directors of small companies who have substantial pension funds. Plus, if the policy is set up correctly, the benefits are normally paid free of inheritance tax.

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Key Man Cover
 

Most businesses routinely insure their premises, machinery, vehicles and computer equipment. Few consider the consequences if a key employee, partner, member or proprietor were to die or become critically ill.

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With Key Person Protection, you can safeguard your business against the financial loss it would suffer in these circumstances. The policies are designed to pay out a lump sum on the death of the insured key person, to help your business recover.

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Shareholder Protection

Without shareholder protection, the loss of a stakeholder could have a huge impact on your business.

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With Shareholder Protection, you can ensure your business is protected should a business owner or partner die. A shareholder protection arrangement, with the requisite life insurance, will provide both the money and legal framework to protect the ownership of your business and help you provide for any surviving spouse.

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Income Protection

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Income Protection is a long-term insurance plan that’s designed to pay out a regular sum to replace part of your income if you are unable to work due to illness or injury.

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With most policies, payments start after a defined waiting period and continue until you retire or return to work (although some are limited to twelve or twenty-four months). Unlike critical illness cover, income protection policies allow you to claim as many times as you need to during the policy period, and cover most illnesses that leave you unable to work, both short and long-term.

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Life Assurance

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As well as providing peace of mind for you and your family, life insurance can be used to pay some or all of your inheritance tax bill, ensuring your estate is safeguarded for future generations. If written correctly, the policy will ensure that your inheritance tax can be paid and will minimise the risk of your home being sold to fund it.

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It’s important to take professional advice to ensure that you take out the right life insurance policy and that the tax consequences of doing so are fully considered. With help from your financial adviser, you may find other suitable strategies to protect your estate from inheritance tax without jeopardising your financial security.