Whole-of-market access, including cover from
Funds remuneration and pension costs if an employee or director can't work due to ill health, usually tax-deductible for the employer.
Whole-of-market access, including cover from
Executive Income Protection is designed to fund the remuneration and pension costs of small and medium business owners, directors or key staff, if they're unable to work due to ill health.
The business, not the individual, takes out and pays for the policy. If a covered person is off sick long-term, the policy pays the business an income, which is then used to continue paying that person's salary and pension contributions.
Premiums normally count as a tax-deductible business expense, and, unlike personal income protection, there's usually no P11D benefit for the individual covered.
Business owners and directors, particularly in smaller companies where one person's absence has a real impact on the business.
The business takes out and pays for the policy, rather than you personally, and the payout goes to the business to help continue your salary and pension contributions, with different tax treatment as a result.
It's most commonly used for directors and business owners, but can also cover key employees where their absence would genuinely affect the business.
Typically to continue paying your salary, pension contributions, and related costs while you're unable to work, so your income doesn't just stop.
Yes, usually matched to how long the business could cover your absence unaided, often a few weeks to a few months, before the policy starts paying out.
Match Financial Partners Ltd is authorised and regulated by the Financial Conduct Authority (under number 983246 in respect of mortgage, insurance and consumer credit mediation activities only).
You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk or by contacting the FCA on 0800 111 6768.