Designed to protect a company from the potentially damaging financial implications of one of its shareholders' or partners' death, shareholder (otherwise also known as director share or ownership) protection insurance typically consists of life insurance to which critical illness cover may be added. Monthly premiums are normally treated as a tax-deductible business expense if the premiums are paid for by the business.
Keyman insurance is a policy taken out by a business to ensure their most valuable employees. ... A lump sum is paid-out directly to the business and this can be used to cover the cost of any profit losses, replacement staff, or loan repayments.
Monthly premiums may be tax deductible, but only if they meet a certain criteria.
Executive Income Protection is a type of protection for limited companies where the business owns and pays into the account. If an employee becomes ill or injured and is no longer able to work, the company may then pay out. Monthly premiums are usually treated as a tax deductible business expense.