Plan Today.

Protect Tomorrow.

Is your life insurance working hard enough for you?

19th July 2017

One of the most common questions we encounter is:

"Is my client's life insurance cover the best fit for purpose, or are there improvements to be made?"

As a business led by 2 Chartered Accountants, we work closely with other accountants and solicitors to help their clients and have found there to be tangible added value brought to the table when asked to review a client's life insurance position.

This can be as simple as implementing cover that is more cost effective or of a better-quality policy, but that's not all we bring to the table on this...

A few questions we feel passionately about providing the answers to new clients are set out below:

  1. Is the flow of funds to the right destination should a claim be made? (So often the answer is: no)
  2. Does the policy structure mean the premiums must be accounted on the individual's P11D as a Benefit in Kind? (So often the answer is: I don't know)
  3. Could the benefit of a life insurance trust improve the tax and time efficiency on claim?
  4. Does the structure of the existing life insurance policy contradict the other key business documentation such as Shareholder Agreement, Partnership Agreement or Articles of Association?

We find a joined-up approach to working with other advisers and stakeholders of the business allows us to work efficiently and effectively to bring the client to a position of confidence in the life insurance solution they implement.

The question is: Have you or any of your clients got the answers to all the above questions?

If your answer is "maybe" or "no", then a quick review by us will allow any clarifications to be discussed, and a tidy up of any areas of improvement can be made.

Contact us at our Moira office 02838 338 000 or email

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