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Protection Insurance


Life Insurance

What is Life Insurance?
A lump sum or regular income payable in the event of death within a specified term. Benefits are normally tax free and can be used for:

  • Family Protection to maintain the family's standard of living and aspirations
  • Mortgage Protection to clear or reduce outstanding mortgage debt
  • Inheritance Tax Planning to provide funds via a trust to help mitigate inheritance tax liability upon death

Life insurance policies tend to fall into two categories:

  • Protection Policies designed to provide cash tax free in the event of death only
  • Investment Policies to provide cash in the future not just in the event of death, but as a result of structured savings

Significant reductions in the cost of such cover over recent years means you could probably increase your cover now for the same premium. We therefore recommend that you review your existing cover on a regular basis.
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Critical Illness Insurance

What is Critical Illness Insurance?
A critical illness plan pays a tax free lump sum if you are diagnosed with a specified medical condition, or become totally and permanently disabled during the term of a policy.
The plans normally recommended by MMM, where possible, would also pay benefits in the event of total and permanent disability that results in you being totally and permanently unable to work in your specific occupation, even down to your professional speciality.
Most of us accept that we ought to consider the implications of a critical illness or disability, particularly if we have dependents or run our own businesses.  We go on until the unthinkable accident or illness happens and we suddenly realise we're unable to pay for:

  • A holiday or extended period off work in which to recuperate
  • Alterations to our home
  • Modifications to the car
  • Someone to look after the family
  • Pension provision to give us a comfortable retirement
  • Existing financial commitments, e.g. mortgage, school fees.

Every year more than 600,000 people in the UK suffer a critical illness. The majority survive.

  • Heart attacks - more than 150,000 people suffer their first heart attack. Over half survive at least a year. (Source: British Heart Foundation)
  • Stroke - some 120,000 people suffer strokes. About 70% survive at least a year. (Source: Chest, Heart, Stroke Foundation.)
  • Cancer - about 250,000 people are diagnosed with cancer. About 40% survive at least five years. (Source: Cancer Research Campaign.)
  • Multiple Sclerosis - there are now about 85,000 sufferers of MS in the UK. (Source: Multiple Sclerosis Society.)
  • Kidney Failure - some 100,000 people presently suffer from kidney disease. About 500 new cases are diagnosed each year. (Source: Munich Reassurance)

Modern medicine can save life but it cannot protect you from the financial implications of critical illness. These can be devastating - both for your family and your business.
Critical illness insurance alone will not repair the damage to your health but it can cushion you against the potentially disastrous impact of serious illness on your personal finances. And by relieving you from financial pressures, it can help you make a fuller physical recovery.
We can help you with the best critical illness insurance cover which cover 145 Critical Illness against the average 35 Critical Illness insurance cover provided by average insurer, means you are nearly three times better insurance cover.
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Income Protection Insurance

As independent advisers, we specialise in identifying the most competitive and comprehensive Income Protection for your needs, taking account of your professional specialisations.
What is an Income Protection Plan?
An income protection plan is designed to pay you an income in the event of you suffering from an illness or injury, whether permanently or not, that results in a reduction or loss of earnings.

  • It pays you a tax free income in the even of you being totally unable to work in your chosen profession, directly as a result of illness or injury.
  • It should commence payment when your salary or practice drawings reduce or cease.
  • It can supplement any ill health benefits provided by your occupational pension scheme.
  • Ideally, it should pay an ongoing income, to your chosen retirement age which is selected at the outset, or until you can resume your own occupation.

Why is Income Protection so important?
It is a fact that workers in the UK are significantly more likely to suffer from a long term disability than they are to die before the age of 65. There are currently 2.4 million people claiming incapacity benefit in the UK, and of those 73% have been claiming for 24 months or more, and 48% for over four years.
The most common types of long term illness are mental/stress related, affecting 40% of claimants, with 20% being affected by musculo skeletal disorders (source: Moneyfacts Investment, Life and Pensions Magazine, february 2007).

Wherever possible, it is essential to have cover in the event of you not being able to carry out your own specific occupation and this aspect cannot be underestimated in identifying cover that fits your exact needs, rather than something that just loosely fits.

We always source income protection plans from across the whole market, where in addition to meeting the 'own occupation' definitions that we require, the insurer also has a fair and speedy claims process which is very important in trying to claim for long term sickness or disability.

Finally, we can also help to control the costs of this cover by dovetailing it with our MMM Locum/Business expenses cover as the latter would cover you for the first year of incapacity, with income protection insurance applying after the first year of incapacity.
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Dental Insurance

It’s no secret that dental treatments can be quite expensive. Dental insurance plans offer a way to access high-quality treatment through monthly or annually payments. These plans may cover the entire family or only certain members of the family, depending on what you need. The aim is to provide cover for all kinds of dental treatments, including preventative treatment, minor or major treatment.
Dental health insurance policies may also cover only NHS dental treatments, or both private and NHS dental treatment.
Generally, your dental insurance plan will include limits that can be paid for a particular treatment, as well as a special limit for the total amount payable for that treatment during a period of one year. The cover may also extend to include dental emergencies. When you undergo treatment, you pay the dentist, and then you file claims to get the money back from your dental insurer.

Types of dental insurance plans

There are a vide variety of dental plans available, with a range of premiums. These premiums can differ greatly, and can often depend on the age of the applicant. Checkups are not really necessary before the premium is set.

Benefits of dental insurance

Dental insurance allows you not only to claim back the money that you spend on your dental treatment, but also to choose your dentist. You can claim dental expenses, regardless of whether you use a private dentist or a NHS dentist, although this may depend on the kind of dental plan you are covered under, and the insurer.

Dental insurance coverage

Although dental plans cover all major and minor treatments, they do not cover dental implants, treatment of injuries sustained during sports, cosmetic and orthodontic treatment, oral cancer treatment, salivary gland treatments and treatment of severe dental abscesses.
They also do not pay the entire cost of the dental treatment. Most only pay up to 75% of the total cost of treatment, and may place a annual cap/maximum on the amount payable. Your policy will also have a fixed maximum annual pay-out. Most plans will require you to enroll for cover at least three months before claiming expenses, but this differs according to the insurer.

Types of dental insurance plans

You can choose a capitation scheme, which requires you to pay every month. This scheme covers dental check ups, X-rays and tooth extractions. You don’t have to settle a bill every time you have a treatment, and the premium can be set after a dental consultation. The disadvantage here is that you can only receive treatment from dentists who have also signed up for a capitation scheme.
The premium depends on several factors, including your dental health. These plans are best suited for those who need regular treatment, and are therefore looking to spread their costs.
You can choose one of two types of capitation plans:

  1. Maintenance plans give you cover for two oral hygiene checkups, including X rays, and two dental examinations every year. There may be an initial signing-up fee, and you may be entitled to discounts on other treatments.
  2. Comprehensive dental insurance plans give you access to unlimited treatment. You will be charged a monthly fee, which depends on your oral health. The better your dental health, the lower the fee.

Cash plans provide partial cover for dental treatment, besides general health screening and other treatments. Here, the cover provided can be between 50% and 75%.
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Key person Insurance

The objective of key person insurance is to compensate a business for loss of profits on the death, critical illness, or disability as a result of sickness or accident of an employee.
As a business owner you will have considered disaster recovery and contingency planning; but have you thought about how the loss of a particular person would impact on the profitability of the company?
The financial impact may include: -

  • Loss of new business secured by the key person
  • Loss of access to loan finance dependent on the key person
  • Necessity to suspend or stop production of certain products on the loss of the key person
  • The cost of recruiting and / or training a replacement

There are a number of questions that may be asked in order to identify a key person:

  • What would be the financial impact to the business of recruiting and / or training a replacement for the person?
  • Does the person have a number of contacts that secure significant amounts of business or help ensure the smooth running of the business?
  • Does the person come up with ideas important to the company (research & development)?
  • Would the loss of the person affect the financing of the business?
  • Does the person bring money into the business?
  • Does the person save the business money?
  • How would the loss of the person affect business profits until he / she is effectively replaced?

This is likely to include directors, senior managers, research and development specialists and sales staff.
The solution.
Key person insurance is designed to protect your business against loss of profits. As with any insurance it is important that the proceeds are in the right hands at the right time. It is the business that will suffer loss and needs to be insured against it.
The usual way to set up cover is to have the company take out the policy (as plan owner) on the life of the key person. It is possible to arrange life insurance, income protection and critical illness policies in this way. 

What about key employees of partnerships?

In England & Wales partnerships are not a separate legal identity from the individual partners. This means that it is not possible for the partnership to own a policy.
A solution to this is to have one or more partners take out an insurance policy and hold it on trust for all the partners in the firm. If the key person is a partner they can take out the policy on their own life and place it in trust for the other partners.
A limited liability partnership (LLP) is able to contract in the business name and so could effect key person cover.

Deciding the amount of cover

There is no set formula for calculating the monetary value of a key person to the business. The financial loss to the company on the death of a key employee will depend on a number of factors including the following: -

  • The level of recent and future profits
  • The effect on profits if the key person were to die or become disabled
  • The cost of recruiting and training a replacement, and the loss of profits during that period
  • Loans that could be recalled on the key person's death or disability
  • The length of time before the key person is due to retire

There are two approaches that are usually used for determining the level of cover that is needed: -
Multiple of salary

Using this approach, the key person's salary is multiplied by a factor usually between five and ten.
This is a simple way of calculating the cover but it has its drawbacks. The salary alone will not always reflect total earnings, may not accurately reflect someone's real value to the business, and doesn't take any account of the time to go until retirement.
It is usual for employers to substitute the total cost to the employer of an individual rather than just use the salary figure. In other words this could be basic salary, plus potential bonuses, pension contributions, employers National Insurance etc. This helps to protect the employer by calculating the full potential cost of a suitable replacement over the recovery period. 

Proportion of profits formula

This formula takes account of the key person's salary, annual profit, and the time it would take to replace them. The formula usually used is as follows: -
[ Key person’s salary / total salary roll ] X profit* (in the last trading period) X number of years**  
*Assuming that profits are expected to increase in the future, care will need to be taken to ensure that the sum insured caters for this. Including an increase option on the policy could do this.
The profit figure can be either the gross or net profit. The net profit is a good reflection of the performance of the business, but will not always allow for some of the fixed expenditure (rent, rates, salaries etc), which still have to be paid after the key person's death. The gross profit can give a better reflection of the business profit lost on their death.
**The number of years is that number necessary to replace the key person; otherwise called the recovery period.  
If you are in any doubt as to the tax position of key person insurance please consults our professional advisers. The tax treatment of a policy and policy proceeds may be at the discretion of HM Revenue & Customs.
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Partnership Protection Insurance

The value of protecting your partnership

One of the great risks of a business partnership is that one of your colleagues may die, with his or her share of the business passing to someone else. That person may have little interest in the business or - at worst - may be hostile to your objectives.
Equally a partner who suffers a serious illness may want to retain the option of continuing in the business or be compensated for their exit from the business.
The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the interest in the business, or compensate the deceased’s dependants.
Esteema  Partnership Protection offers a range of options:


Appropriate life cover to fund the purchase of the deceased’s interest in the business


Advice on a suitable agreement to ensure the partnership continues and the deceased’s dependants are compensated


Arrangements for partners who retire, or who fall seriously ill and are unable to work

Benefits to partners

In the event of the death or serious illness of one of your partners, you’ll want to ensure that the business continues as smoothly as possible. Partnership Protection sets out the procedures and policies to help you retain control:


Agreements, insurance, and trusts can be established to protect the business against the financial and practical implications of a partner’s death or serious illness


Arrangements which ensure your partnership is not automatically dissolved


Your business interests protected against hostile parties, or disinterested inheritors


Funds available to buy out the deceased's interest in the business and compensate any dependants


Continuity of business prosperity


Avoid the sale of assets to repay the deceased partner’s interest in the business


Retain confidence of employees and customers

Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Health Insurance

When considering the healthcare needs of you and your family, prompt access to the latest treatments and procedures is often paramount. With advances in medical treatment, drugs & technology and with minor procedures often costing thousands of pounds, access to private healthcare treatment can be seen as an expensive option. But it doesn't have to be.
A private health insurance plan from Esteema can give you peace of mind that, when needed, you can avoid long hospital waiting lists and access the latest treatments at an affordable price. You can choose one of over 200 private hospitals throughout the UK, in which to receive your eligible treatment.
Should you or a loved one, unexpectedly become ill or injured private health insurance can cover the costs of your diagnosis and treatment, helping you to receive the most appropriate care without delay, at a time that is convenient for you.
Whether you are looking to cover yourself, your family or maybe you're considering a workplace group scheme, our affordable private health cover has been designed with you in mind.
There may be specific benefits you wish to be covered for or maybe you are looking for a comprehensive plan that takes care of most of your healthcare needs.
Benefits of Health Insurance
  • Prompt access to eligible treatment — no waiting lists
  • Most extensive private cancer cover available in the UK
  • A straightforward claims service that puts you first
  • Access to over 400* clean and comfortable recognised hospitals
  • Access to groundbreaking drugs and eligible treatments
  • A 24-hour nurse healthline offering medical guidance
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email

Inheritance Tax Insurance Cover

Protecting Your Estate
As you will doubtless know from watching the news and reading the papers lately, changes are constantly afoot to the way inheritance is dealt with in terms of tax. Anybody with an estate / property could be liable for Inheritance Tax if they die, but help is at hand — Esteema can provide you with a life insurance policy which takes Inheritance Tax in to account.
The irony about Inheritance Tax
Unfortunately, Inheritance Tax is required to be paid before the value of the estate in question has been released to the beneficiaries. What this essentially means is that your family and benefactors can not claim what has been left to them in your will, and then choose to pay the tax from that. Instead, they must pay the tax immediately after the value has been calculated. The most obvious way for your benefactors to solve this problem is to take out a loan to pay the tax owed. However, this can lead to unnecessary debts on their behalf, and seems ridiculous when the money they need is simply sat in the bank awaiting release. However, there is a way to get around this quandary.
Adding Inheritance Tax Cover to your Life Insurance
The best way to get around the Inheritance Tax quandary is to take out a life insurance policy which will pay out on your death and so cover any Inheritance Tax due on the estate. Since they essentially regain whatever tax has been paid when they receive their inheritance, so the life insurance lump sum can then be used as it would have been before. An important consideration to remember is that your life insurance policy could be considered to form part of the deceased's estate, so the plan must be set up under a trust. A fringe benefit of this is that all proceeds of the policy are paid free of tax.
How does the plan work?
For a married couple, a whole life insurance policy tends to be taken out in both parties names and is then payable only after the last person has died. If the policy is only covering a single person, a whole life insurance policy is still taken out but in their name alone. The insurance plan is set up as a trust, with the beneficiaries usually being the children and other family members of the deceased.
Protecting pre-death gifts
Another way that people attempt to eliminate Inheritance Tax liability is by simply decreasing the size of their estate before they've died. They usually go about this by making gifts to family members and grandchildren - these will remain tax-exempt as long as the giver lives for seven years after the gift was given. Of course, there is always the risk that the donor may die within the seven-year period, so the donor will often take out a life insurance policy to cover the cost of the tax payable, should they die within that period. This type of insurance is technically known as a 'gifts inter vivos' policy and it will run for seven years. The policy is set up in trust to ensure that the funds fall outside the donor's estate for tax purposes. The beneficiaries are normally the heirs to the estate.
We are specialised in advising and arranging the insurance. Please contact us for full discussion
Call us today to find out how we can help you.
Telephone +44 (0)208 4646 430, Email