Executive Income Protection for Directors and Employees
What Is Executive Income Protection?
Executive income protection is paid for by the business and helps protect a director's or employee's income if they're unable to work due to illness or injury. Premiums are typically an allowable business expense, making it a tax-efficient way to provide meaningful income protection for senior team members.
Cover can help replace salary, and depending on the provider and policy terms, may take into account dividends where eligible, employer pension contributions and National Insurance where available.
Why Business Owners and Directors Should Consider It
Directors and senior employees often draw a combination of salary and dividends, which standard personal income protection may not fully reflect. Executive income protection can be structured around a director's total remuneration, providing more meaningful cover funded by the business rather than personal post-tax income.
Deferred Periods and Benefit Periods
As with personal income protection, executive policies have a deferred period (the waiting time before payments begin) and a benefit period, which sets how long payments continue. We'll help you choose options that suit your business and the individual's circumstances.
Subject to Underwriting and Provider Limits
As with all income protection, cover is subject to underwriting, provider limits and policy terms. We'll help you understand what's available and recommend a suitable policy for your business and its key people.
Executive Income Protection FAQs
Ready to Protect Your Directors' Income?
New to business protection, or reviewing arrangements you already have? We'll talk you through the options and recommend what genuinely suits your company.
Review My Executive Income Protection
Tell us about your business and we'll be in touch to discuss your options.