Death in service insurance

The situation

The company wished to:

  • Avoid uninsured liability
  • Ensure benefits are insured at competitive rates and terms
  • Avoid medical underwriting where possible
  • Arrange cover in a tax efficient way for CEO

What we did

  • Audit of trust deed and insurance in place
  • Full broking exercise
  • Advice on further actions to take
  • Set up special free-standing excepted life cover

Client benefits

  • Several uninsured aspects corrected
  • Possible future Age Discrimination risks reduced
  • Reduced premiums by £160,000
  • Restrictions removed and medical underwriting requirements reduced
  • Benefit tax free (avoid 55% tax on benefit), no break in coverage, no additional medical questions