Protecting your lifestyle

If your lifestyle is important to you, it’s probably worth thinking about how to protect it.

The foundation of what we do for our clients is to help them plan and work towards a lifestyle they envisage for themselves in the future. On the way to that future, it’s important to ensure unexpected events don’t throw a spanner in the works, especially if you are self-employed or run your own business.

If, for example, you are the main player in your business (and you probably are) then your life can be insured. It’s called ‘death-in-service’ or ‘relevant life’ cover. The premium can be paid by your business while the benefits can be paid to an individual such as a child or spouse while at the same time, you can claim tax-relief on the life cover and income protection. What’s more, the premiums are normally tax-deductible, so your business can claim corporation tax relief on the premiums.

You can also obtain ‘executive income protection’ which means that if through accident or illness you are unable to work, an ‘income replacement policy’ can kick in after a set period of time. This income replacement can include salary, national insurance, dividends and company pension contributions.

The point of all such measures is to ensure that the plans you’ve made for yourself and maybe more importantly, for your family, can continue regardless of unforeseen events. We are experts at finding the most suitable policies for our clients and arranging them in the most tax-efficient way. For that old favourite of ours, peace of mind, it’s definitely something worth thinking about.

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Logic Wealth Planning Limited is Authorised and Regulated by the Financial Conduct Authority. Registered in England and Wales number: 4206195. Registered Address: 18/19 Salmon Fields Business Village, Salmon Fields, Royton, Oldham, OL2 6HT. Trading address: Sigma House, 9 Southgate, Cross Street, Off Green Lane, Heywood, Greater Manchester, OL10 1ND. Telephone: 0808 1234 321.