Business Financial Planning now available

Business Financial Planning

If you are self-employed or running your own company, 2023 may be the time to fully review your own personal financial arrangements and those of your business to ensure that your family and business are fully protected should the worst happen. You may wish to review or improve your employee benefits to help retain key or talented employees. Or you may simply wish to explore how you may plan for your future retirement in the most tax efficient way. Our in-house Financial Advisor, John Miller, would be happy to talk with you to review your current arrangements and to provide advice in the following areas:

Financial Review & Advice

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Personal Financial Planning

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Our Remuneration

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Savings & Investments

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Executive Pension

Executive pension plans aren't only for executives. They are designed for employees and employers who wish to set up a plan to which the company may make contributions. Tax relief can be claimed by both the employer and the employee. Maximum contributions will be based on age, salary, and service. This is a Revenue approved solution for turning company profit into personal wealth. It can be used as part of business exit strategies and for profit extraction purposes.

A lump sum of 25% of the funds can be taken tax-free (up to €200,000) at retirement with the remainder of the fund being used to provide a regular income.

Group Pensions

Every employer is different, but with auto-enrolment on the horizon, everyone will be legally required to establish a group pension scheme, enrol employees, and make contributions on their behalf. We would be happy to talk to any employer about setting up a group pension scheme now to get ahead of the rush.

We will work in partnership with you to add value, rather than being just another insurance broker. Regularly liaising with group pension providers, you will be provided with a detailed report to monitor your scheme performance every year.

No scheme in place? No problem - We will work with you to get a scheme set up that is right for you and your employees.

Is your existing scheme competitive? - Even if you already have a group pension scheme in place, we can provide a review and advise if the scheme remains competitive and remains the right solutions for your organisation and employees.

How we work?

  • We'll consult with our providers to create a scheme and deliver benefits that work for a business of any size.
  • You'll receive a full audit of an existing scheme or expert guidance on setting up a new scheme.
  • You'll have access to our dedicated account consultant

Executive Income Protection

This cover can be provided by the company for staff and is a cost-effective way to replace income should a staff member be absent due to illness or injury, thus removing the pressure of paying the employee along with temporarily being down the services of a key employee.

Cover can be offered on varying percentage levels of salary and different deferment periods (the amount of time that the staff member needs to be absent before payment kicks in) so you can tailor-make the plan to suit your company's requirements. Premium can be offset against your annual tax bill.

Group Income Protection

Group income protection is much more than a valuable benefit to employees. Employee absence can be a huge hindrance and cost to any employer, hitting companies where it hurts the most.

How can we help?

Group income protection allow a business to provide its employees with peace of mind, covering essential monthly outgoings, while they focus on recovery. The organisation no longer has the difficult moral decision of when to stop their income.

Supporting employees on the road to recovery

As opposed to a Death in Service plan that pays out on death, a group income protection scheme is designed to provide a replacement income to your employees should they be unable to work through illness or injury. All providers offer assistance to the employee and the employer, including rehabilitation support - reducing the length of absence and the impact on the business.

Group Death in Service (DIS)

One of the simplest schemes a company can offer its people is Death in Service insurance. This would go a long way towards showing your employees that they are valued and encouraging loyalty.

How can we help?

As with other types of life insurance, Death in Service cover allows employees to choose their beneficiary and ensure that the people closest to them will be taken care of in the event of their death.

Flexible plans to suit you

The benefit is calculated by multiples of salary and there are a number of options available to suit your budget.

Keyperson Cover

How would your business cope if it lost a key director or employee? For many, it would spell disaster. Key Person insurance, also know as Key Man insurance or Key Person protection, covers against the loss of a key individual(s) in a business which could result in financial loss, either in terms of lost income, loss of confidence in the business, or the loss of someone who is pivotal to the ongoing success of the business.

When a business loses a key employee, this can negatively impact the business' long-term revenue and potentially contribute to a company's failure.

Key Person insurance is designed to pay out a cash sum if the person insured:

  • Dies
  • Meets the insurer's terminal illness criteria
  • Suffers a specified illness such as a stroke, cancer, or a heart attack (if you've chosen additional critical illness cover)

We can guide you through the process of deciding on the appropriate amount and length of your cover to ensure you get the right people protected at a suitable price.

Co-Directors Cover

Co-directors cover provides a lump sum payment on the death of a director and enables the remaining directors to purchase the deceased directors shares in the business from the family and retain control of the company.

The death of a director can bring disarray to an organisation. It can jeopardise the security and direction of the company. If the deceased director was a majority shareholder, the remaining directors may lose control of the company if the next-of-kin were to take over.

Co-directors insurance makes it possible for the directors to buy the shares from the family, which may be the best option for all concerned. Cover can be taken on a corporate basis by which the company pays the premiums and owns the policy.

If you would like to meet with John Miller, our in-house Financial Advisor, please call the office on 0818 297 007 or email John directly at or complete the contact form below, to arrange an appointment.

How we are paid - commissions and fees we may receive from our providers
All commissions and fees earned by the credit union, stay in the credit union for the benefit of members. Learn More

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I would like to arrange a complimentary review of my current financial arrangements