One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.
A Relevant Life Plan is a death-in-service benefit taken out by a company on behalf of an employee.
In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder
UK News
The Supreme Court partially upholds an appeal from lenders, who had faced potentially paying compensation to millions of motorists.
A claimant in a car financing judgement is disappointed more people will not be able to claim.
The move comes as a weaker-than-expected jobs report stoked fears about tariffs.
Trump's tariffs in his first term took aim at China - but this time they are going beyond.
Lenders no longer face the prospect of having to pay £30bn to £40bn to aggrieved car buyers, but the industry still faces hefty payouts.