Life Assurance

Pays a tax free lump sum to the policy holder if the life assured dies or is diagnosed as terminally ill before the policy expiry date. Life assurance is used to:

• Repay a loan if death occurs before the loan is repaid, for example a mortgage or business loan.

• Make funds available to pay inheritance tax.

• Provide Keyman Life Cover. The lump sum can be used for recruitment, to reduce loss of profit, repay loans or bank overdrafts where an employee important to the financial success of the business dies.

• Provide funds for surviving shareholders to purchase the shares of deceased shareholders

• Give an employee benefit when arranged as a group scheme