Protecting a family and business with Protection
by Beacon Wealth Management
Jason's Story - a Health & Protection case study
The Challenge
A local business was owned by two Directors and had several employees. Unfortunately, one Director, Jason, was diagnosed with terminal cancer and was unable to continue working.
He returned to work after two years of respite but was unable to continue with the responsibilities he had previously held within the company.
The Solution
In years previous, both Directors had taken out plans to protect both their loss of income, but also a capital lump sum for the business, in the event of illness.
The Result
With these plans in place, Jason received payment for two years’ work, paid for from their plan, not the business. This enabled the business to hire an additional person in Jason’s absence, whilst the capital lump sum was used to cover for profits lost through activities not undertaken by Jason.
If you need help formulating a plan to protect yourself and your family, our Chartered and Certified Financial Planners can assist you in setting up the right protection policies to meet your needs.
Please call our experts on 01480 869466 or email us at info@beaconwealth.co.uk for a free initial, no obligation chat.
Future fees may apply. Registered and regulated by the FCA No. 526604.