Monday 15th August, 2022
Relevant Life cover -How to tax efficiently provide your life insurance cover through your company
Many small business owners sink blood, sweat and tears into their business. All their dreams and future goals for themselves and their loved ones are often inextricably linked to the success of their business venture. Often they are the main bread-winner, with their partner staying home and looking after the family. When they succeed, it is the culmination of years of effort and stress, but the rewards are so sweet. However, what happens if the unforeseen happens? What happens to your family and all the resources and effort that have been sunk into the business if the adventurous business owner dies? Do all their dreams and ambitions for their loved ones die with them? In this article, I will discuss how to protect against such an event, using your business to provide the protection your family needs. Furthermore, I will show how this can be in a manner that can be far more cost effective and tax efficient than if you were to pay for the life insurance your self.
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