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dalenorth
Original Poster
173 posts
36 months
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Without going into too much detail and looking like this post is a promotion, we have have a really great product than enables directors that pay for a product as a personal expense to put the premium through their business, hence goiving a large saving.
We have trialed mail shots etc, but have had very little luck, has anyone got any ideas on how we can promote to this market???
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insurance_jon
2,335 posts
115 months
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wormburner
6,388 posts
122 months
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0000
9,319 posts
60 months
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wormburner said: Tell us more! This. 
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Simpo Two
54,218 posts
134 months
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I have a feeling Eric's going to be along in a moment...
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JustinP1
10,274 posts
99 months
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dalenorth said: Without going into too much detail and looking like this post is a promotion, we have have a really great product than enables directors that pay for a product as a personal expense to put the premium through their business, hence goiving a large saving.
We have trialed mail shots etc, but have had very little luck, has anyone got any ideas on how we can promote to this market??? You could get Jimmy Carr to use it? His last scheme got a shedload of free publicity!
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dalenorth
Original Poster
173 posts
36 months
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Hi guys,
Its nothing dodgy and HMRC aproved, thats why Jimmy wasn't interested. HA HA!
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0a
8,433 posts
63 months
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Partner with the websites that offer new company set up packages, eg those listed hereGet in at the beginning when companies are looking to save money and are thus likely to explore such things.
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Mr Overheads
1,001 posts
45 months
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dalenorth said: trialed Were your mailshots spell checked? (I'll ignore goiving as a typo on this thread)
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dalenorth
Original Poster
173 posts
36 months
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Sorry Mr Overheads, having a bad day!
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wormburner
6,388 posts
122 months
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dalenorth said: Hi guys,
Its nothing dodgy and HMRC aproved, thats why Jimmy wasn't interested. HA HA! In that case, tell us more! (why so secret squirrel?)
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dalenorth
Original Poster
173 posts
36 months
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OK, I will tell you more, but I really wasn't looking for an invite to promote.
The product is a relevant life policy - this is a life insurance paid for by the business but with the beneficiaries (i.e. the directors wife) being able to take the benefits tax free in the event of death by using a trust.
Relevant life policies are an allowable deduction for business against corporation tax, but they are not treated as a benefit in kind. This results in no national insurance liability for employer or employee and no income tax liability for the employee on the payments into or any sum assured paid out under the plan.
In a roundabout way of putting things, a high rate taxpaying director who is personally paying e.g.£100 pcm for life cover could save £78 taking into account income tax and NI.
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dalenorth
Original Poster
173 posts
36 months
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Cheers 0a, that's a good place to start.
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LooneyTunes
2,433 posts
27 months
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dalenorth said: The product is a relevant life policy Guessed as much from first post. Without wanting to be negative, unless you've got access to a bespoke product, they're not exactly unique are they? I suspect that anyone who got your mailshot and was interested simply called their regular broker... personally I think you might throw money away trying to promote them.
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Kudos
2,029 posts
43 months
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dalenorth said: OK, I will tell you more, but I really wasn't looking for an invite to promote.
The product is a relevant life policy - this is a life insurance paid for by the business but with the beneficiaries (i.e. the directors wife) being able to take the benefits tax free in the event of death by using a trust.
Relevant life policies are an allowable deduction for business against corporation tax, but they are not treated as a benefit in kind. This results in no national insurance liability for employer or employee and no income tax liability for the employee on the payments into or any sum assured paid out under the plan.
In a roundabout way of putting things, a high rate taxpaying director who is personally paying e.g.£100 pcm for life cover could save £78 taking into account income tax and NI. Was sold one a couple of weeks ago, so not unique
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Mr Overheads
1,001 posts
45 months
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dalenorth said: Sorry Mr Overheads, having a bad day! No worries, I was having a picky day. Apologies
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dalenorth
Original Poster
173 posts
36 months
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Hi guys, I never said the product was unique, but I would Hazzard a guess that 90% of directors don't know about these policies. I'm sure we will find a way to raise awareness and increase our sales.
Many thanks for your help and comments.
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wormburner
6,388 posts
122 months
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Put their IFAs on commission.
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Mr Overheads
1,001 posts
45 months
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How about finding a business journalist and run it as an "another tax loophole" story.
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bqf
940 posts
40 months
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How do I buy one of these immediately?
Who is the underwriter?
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