Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.
Business Protection
Business protection is all about insuring for the unexpected. It's a way of protecting your business if something goes wrong.
The Financial Conduct Authority do not regulate on tax planning, estate planning and inheritance tax planning.
One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.
In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder
UK News
An unexpected “strength of feeling” led to the U-turn over its helpline closure, HMRC's boss tells MPs.
The banking group's results showed it had made less money from loans and mortgages compared with last year.
A former top Post Office lawyer says the rest of the management team wanted a pause in prosecutions.
Charities report heightened concern among pensioners who fear being dragged into paying income tax.
The app's owner, ByteDance, has nine months to sell its stake or face being blocked in the US.