The MSV Professional Group Benefit Plan provides valuable financial assistance to protect the business from the loss of a partner, director or key employee by paying a tax-free lump sum on death, disability or on the diagnosis of a critical illness. The lump sum payment can be used to help the business, the family or both.
The MSV Professional Group Benefit Plan is designed for small and medium-sized professional companies and provides cover for what we would all prefer not to think about: the loss of life, becoming permanently disabled or being diagnosed with a critical illness. As a professional you understand how you and your fellow partners, directors and key employees contribute to the success of your business. Taking out an MSV Professional Group Benefit Plan is one of the best ways to give you peace of mind that your business can continue in the way that you want following the loss of a partner, director or key employee.
- Provides valuable life insurance protection at a low cost.
- Can be used to enable remaining partners to buy back the share of the business from the estate of the deceased partner.
- Can help the business to pay off any outstanding loans, such as shareholder loans or partner loans.
- Helps to recruit and train a replacement or to provide a temporary consultant whilst you look for a permanent replacement.
- Cover for all employees is provided under one policy document.
- Simple to administer.
- Premiums paid are tax deductible as a business expense.
- Can be offered as part of the overall benefit package to your key employees.
- Death benefit are paid as a tax-free lump sum to designated beneficiaries.
- No medical examination required up to an agreed free medical cover limit.
- The Plan can be written in Trust.