Nov
16
Shareholders Protection

If You Have Not Reviewed Your Shareholders Protection in the
Last 12 Months Please Take a Moment to Read This

Earlier in the year I received an enquiry from a business who had put shareholders protection in place six years ago (through another broker who is no longer trading) for the three business partners. Sadly one of them had just passed away and they asked whether I could help them understand how they make the claim and organise the shares.

I found out a little more about the business and quickly learned that at the time of putting the cover in place they were a small business with their three directors and one administrator. Over the course of this six year period they grew to employ nine more staff and had won plenty of large contracts from their competitors. With their annual profit now more than five times what it was when they set their policies up, their shares were worth considerably more…

HOWEVER neither the business nor the broker had reviewed the shareholders protection during that time meaning the agreement that came into force purchased the shares from the deceased directors estate for their value from six years ago.

I am sure there are many more policies out there that would cause a similar issue so my recommendations would be:

  1. Have a regular annual review with your broker.
  2. You can set your cross-option agreement up differently allowing for the value of the shares to fluctuate.

If you would like some advice or to check your policy please enquire by calling us at 01202 082380 or by email at matt@havenfs.co.uk

Matthew Thomas
Managing Director

Oct
23
Breast Cancer

In the wake of the NHS admitting their recent mistake which has lead to an estimated 450,000 women missing their breast cancer screening, we ask what are the risks and what can you do to help?

What are the risks?
In short, the risks are significant. Aside from skin cancer, breast cancer is now the most common form of cancer in the UK.

1 in 8 women will be diagnosed with breast cancer during their life.

What can you do?
If you are over the age of fifty, it is recommended that you take advantage of the NHS Breast  Screening Service which offers three-yearly mammography’s to women 50+ (a mammography is a simple X-ray of the breast).

It is also recommended that you regularly check your breasts yourself. It is important to understand how they normally feel and regularly check for any unusual lumps or thickening. Puckering and/or dimpling of the skin and changes to the nipple can indicate a reason for further investigation.

When checking; your breast, armpit and area between the breast and collarbone should be checked.

What to do if you find something?
Consult your GP as soon as possible. They will conduct an initial examination and ask questions to establish an understanding of your risk factors. If necessary, they will then refer you for further tests.

What if I don’t want to rely on the NHS?
Many clients come to us because they don’t believe the NHS will quickly and accurately diagnose a serious health condition. This is typically because a close friend or family member has been failed by the NHS in the past. Or, it can be driven by the constant stream of NHS “failures” featured on the news.

As an industry specialist in protecting our clients health, we have a number of products available that can support you:

For example a number of life insurance providers now offer Private GP services allowing you to have a video or conference call with a Private GP within 2hrs. These GP’s are authorised to make ongoing referrals to NHS or private consultants for further investigations.

Private Health Insurance will also allow you to receive free or heavily discounted health checks to check for conditions such as breast cancer or the associated risk factors (for example diabetes).

Haven Financial Solutions Limited is registered in England at Briggs House, Commercial Road, Poole, Dorset, BH14 0JR (company no. 10777497). Haven Financial Solutions is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority.
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.
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