Executive Income Protection provides Directors and employees of the company with a tax-efficient way of arranging permanent sick pay. The plan pays a regular income to the Company which, in turn, continues to pay the Director or employee during any period of illness, injury or incapacity. Think of it like a permanent private furlough scheme paid for by the company.
The Benefits of Executive Income Protection
- Highly Tax Efficient – Usually treated as an allowable expense.
- Offers Directors and employees with a form of Permanent Sick Pay.
- Protects up to 80% of Salary, Dividends and P11d benefit.
- Can be set up to include Pension and NI Contributions too.
- Ensures lifelong financial resilience – all the way to retirement.
- Is like having your own Private Furlough Scheme paid for by the company.
- Can also be used as an attractive Employee Benefit.
