Income protection for self-employed pays-out a tax-free…
Executive income protection is a business income protection policy, ideal for small to medium sized businesses.
It can help to ease financial strain for an employee if they’re unable to work due to illness or injury (this can include employed directors of their own limited company).
It does this by making monthly payments to the business, which can then be passed onto the employee (via PAYE) to help them cover living expenses.
As well as covering a salary, it’s also possible to protect the following with an executive income protection policy:
Why not compare executive income protection through Reassured Advice?
A friendly member of the team can help you compare quotes from a panel of top UK providers.
Quotes are fee-free, personalised and no-obligation. Simply get in touch.
Executive income protection works in a similar way to a standard income protection policy, by paying out to replace lost income.
However, instead of being taken out by an individual to protect their income, the policy will be arranged and paid for by a business.
If you’re an employed director of a limited company, you could choose to protect your own income or allow an employee to benefit themselves.
If the insured person becomes unable to work (due to illness or injury), a claim can be made and payments will be made to the business.
The funds can then be passed on to the insured person, using PAYE, to provide them with a percentage of their income while they’re unable to work (acting as a form of sick pay).
Typically, up to 80% of the insured person’s income can be protected.
As with any income protection policy, there are some key policy terms and conditions that you should be aware of:
Reassured Advice can guide you through each step of the application process and answer any questions you may have along the way. Why not contact us today?
Executive income protection can help cover up to 80% of an employee’s income if they’re unable to work due to illness or injury.
This can help them to cover essential financial commitments and daily living costs, such as:
With an executive income protection policy, as well as protecting a salary, it’s also possible to protect:
For more information about what executive income protection, why not contact Reassured Advice?
An expert member of the team can provide you with all the information you need to know.
The main difference between the two is that one can be taken out by a business and the other is for individuals.
Executive income protection will be taken out and paid for by a limited company, allowing an employee to benefit from the monthly payments.
Any employee of the limited company could benefit from executive income protection, including employed directors.
However, both policies are similar as they can pay out to replace lost income due to illness or injury.
Simply get in touch to find the right policy to meet your needs. All quotes are personalised, fee-free and completely no-obligation.
Small to medium sized businesses may not qualify for larger group protection schemes, or it may be unaffordable to have this type of benefit in place.
Without the right protection, employees may need to rely on their own savings or government benefits to get by.
Executive income protection can provide an affordable and tax-efficient way to offer financial protection to an employee (including directors of their own limited company).
As the premiums are paid for by the business, they can often be classed as a business expense, making them tax deductible for the business.
To determine whether executive income protection is right for you, why not contact Reassured Advice?
Executive income protection is available through many of the UK’s top providers.
Reassured Advice can help you to compare quotes from leading providers, including:
This information has been taken from each providers website and is correct as of 16/05/2023
Simply get in touch to compare executive income protection policies. All quotes are personalised, fee-free and no-obligation.
Executive income protection can be tax deductible for the business paying for the policy.
As the premiums are paid for by a business, they can be classed as a business expense.
However, as the funds are paid to an employee through PAYE, they can be subject to income tax and national insurance.
This is why the amount paid out is often higher than with personal income protection, to account for tax deductions.
Personal plans pay out a lesser percentage (up to 70%), but the payments are tax-free to the person receiving them.
Compare both executive income protection and personal income protection through Reassured Advice to find the most suitable option to meet your needs. Simply get in touch.
Comparing quotes is essential in finding the best executive income protection policy.
By comparing executive income protection through Reassured advice they can find you their best quotes.
Policy terms and conditions can vary significantly between each provider, so comparing quotes can help you to find a policy that meet your needs at a great price.
Reassured Advice can help you compare executive income protection quotes from a panel of the UK’s top providers, so why not get in touch?
All quotes through Reassured Advice are personalised, fee-free and without obligation.
Income protection for self-employed pays-out a tax-free…
Who has the best income protection insurance to meet your…
Everything you need to know about income protection…
What does income protection insurance cover? Read this…
Use our income protection insurance calculator to work out…
You don’t always have to choose between life insurance vs…
Can you secure income protection with a pre-existing…
Can you secure income protection insurance as a smoker?…
Teachers can protect their income and top up their sick pay…
Read this in-depth guide to find out everything you need to…
What income protection insurance options are available for…
A comprehensive expert guide to income protection for…
Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry