Accountants & Life Insurance
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Accountants & Life Insurance
As an accountant you have possibly come across quite a few options for life insurance with your clients, especially your business clients.
Life insurance can be arranged in a number of ways and if you have your own practice, there can be some policies that you can arrange through your company.
Your work as an accountant will not usually have any influence on your application for life insurance, but there are a few things to check as a just in case.
We will ask you:
- Do you work solely in the UK, or do you travel abroad to your clients?
- Are you self-employed, have a Ltd company or are part of a partnership?
It is very likely that you will have no issues in arranging life insurance due to your work as an accountant. Your work is not seen as high risk and you should find that most insurers offer you life insurance at standard terms.
If you do need to travel abroad to meet your clients, you could find that this influences your life insurance options. This will depend upon how long you are outside of the UK for on these visits and the locations that you travel to.
If you have your own Limited company or partnership, you could find that arranging a relevant life insurance or group life insurance policy, comes with specific tax advantages to the policy premiums.
You might also want to consider some keyperson life insurance to form part of your continuity of practice engagement planning. Keyperson cover can be a useful insurance to support your business and clients during the transitions that will take place if you pass away.
Our advisers are here to help you find the right insurer to match your circumstances, to get you the best terms possible.
Accountants & Critical Illness Cover
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
There should be no issues in you arranging critical illness insurance when you are an accountant, as your occupation is not seen as a high risk of increasing the chance of making a claim.
Again, if you travel abroad to support your clients this can potentially alter your options for critical illness insurance, but most of the time things go ahead quite smoothly.
You can also consider keyperson critical illness cover to support any COPE planning that you are putting in place.
Our expert advisers will find the right critical illness policy to match your work.
Accountants & Income Protection
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
Income protection can be set up in a few ways depending upon your employment status. If you are a business owner there are sometimes options to set up income protection through your company, which can offer some nice tax advantages and a higher level of benefit.
Being an accountant can be seen as a slightly higher risk occupation for income protection, due to the pressure and responsibilities that come with the role. This means that you can sometimes find that some insurers price their income protection policies differently for accountants compared to other occupations. It is for reasons like this that we suggest that you speak with an adviser like ourselves so that we can make sure that you are getting the best value for your money.
Our advisers recommend income protection for people every day and we will be able to let you know exactly what you can have. Get in touch today for a no obligation quotation.
Accountants & Travel Insurance
We work alongside a specialist travel broker to get you the travel insurance that you need. It is even more important to make sure that seek advice if you are regularly travelling outside of the UK to see your clients. To find out more, please visit our travel page here.
Possible Risks
- Back pain
- Depression
- Eye strain
- Stress
Occupational Duties
- Analysing business plans
- Auditing financial accounts
- Budget planning
- Completing payroll
- Financial forecasting
- Setting up businesses
- Pension enrolments
- Preparing tax accounts and returns
- Publish financial statements
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Cura Financial Services has been rated 4.9 out of 5 based on 827 reviews.
Review by Paul on 11th March 2025
“Great service. Very good.” - 5
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Dr Kathryn Knowles Phd
Author
This page was written by Dr Kathryn Knowles Phd, an award-winning insurance adviser. To read more about Kathryn please see her bio here
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