Protection Recommendation
Solvexis Consulting Limited
Prepared for Frederic Galais
by Michael Cooke, Broadbench
April 2026
Executive Summary
A hybrid protection strategy designed for your role as an executive transformation consultant.
Frederic, as the sole revenue generator for Solvexis Consulting Limited, your ability to work is the business's most valuable asset. If illness or injury prevented you from fulfilling your consulting engagements, the impact on the company would be immediate and significant.
Following our meeting on 17 April, I have prepared a hybrid protection strategy that combines Key Person Income Protection with Key Person Critical Illness Cover. Together, these two policies cover the full spectrum of risk: ongoing income replacement for conditions that prevent you from working, and a substantial lump sum on diagnosis of a serious illness.
Both policies are owned by and paid for by Solvexis Consulting Limited. The premiums are deductible against corporation tax, reducing the real cost to the business by 19%.
Gross Profit Insured
£150,000
CI Cover Options
£150k / £200k
IP Monthly Benefit
£9,000
CT Relief Rate
19%
Why This Changes Everything
The critical difference between your current cover and the recommended Key Person Income Protection.
Current Personal IP
London General
Your existing personal income protection policy defines incapacity as "own occupation" only while you are actively engaged on a contract. When you are between contracts, the definition reverts to "normal activities of daily living".
Recommended Key Person IP
Legal & General
The Key Person Income Protection policy uses an "own occupation" definition of incapacity. Because you remain a permanent employee of Solvexis Consulting Limited regardless of whether you are on a client contract, the policy recognises your occupation continuously. This is a key advantage over your current personal policy.
Why this matters: As an executive transformation consultant, your work pattern naturally involves periods between contracts. Your current policy penalises you for this. The recommended Key Person IP is owned by Solvexis Consulting Limited, and because you are a permanent employee of your own company, the "own occupation" definition applies continuously. The benefit amount of £9,000/month is based on £150,000 gross profit and will be financially assessed at the point of any claim — insurers will review the last three years of gross profit to validate the figure.
Key Person Income Protection
Ongoing monthly income replacement if illness or injury prevents you from working.
Legal & General| Monthly Benefit | £9,000 |
| Based On | £150,000 gross profit |
| Deferred Period | 4 weeks (signed off by doctor) |
| Payout Duration | Up to 24 months per claim |
| Cover Until | Age 68 |
| Occupation Definition | Own occupation |
| Financial Assessment | Validated at point of claim (insurers review last 3 years' gross profit) |
| Benefit Paid To | Solvexis Consulting Limited |
| Tax Treatment | Premiums CT-deductible; benefit taxable as trading income |
| Underwriting | Fully underwritten at application |
| Transferable | No (company-owned policy) |
Monthly Premium
£185.11
£149.94/month after CT relief
Key Person Critical Illness Cover
A lump sum paid to the business on diagnosis of a serious illness. Two cover levels are presented for your consideration.
£200,000
Level cover to age 70 · Up to £600,000 total (3x)
£150,000
Level cover to age 70 · Up to £450,000 total (3x)
What is SIC 3x? VitalityLife's Serious Illness Cover 3x allows multiple claims across different condition groups. If you were diagnosed with cancer and later suffered a heart attack, the policy could pay out twice, up to a maximum of 300% of the sum assured. This is a significant advantage over standard single-claim CI policies.
The policy also includes Total Permanent Disability cover at 100% of the sum assured, and the Vitality Programme rewards healthy behaviours with premium discounts over time.
Combined Cost to the Business
Both options include the same Key Person IP at £185.11/month. The difference is the CI cover level.
| With £200k CI | With £150k CI | |
|---|---|---|
| IP Gross Monthly | £185.11 | £185.11 |
| CI Gross Monthly | £273.12 | £198.29 |
| Total Gross Monthly | £458.23 | £383.40 |
| Annual CT Relief (19%) | −£1,044.76 | −£874.15 |
| Annual Net Cost | £4,454.00 | £3,726.65 |
| Monthly Net Cost | £371.17 | £310.55 |
| Net Daily Cost | £17.67 | £14.79 |
The difference between the two options is £74.83/month gross (approximately £2.88/day net) for an additional £50,000 of critical illness cover.
Why a Hybrid Strategy?
Critical illness cover and income protection serve different purposes. Together they provide comprehensive protection.
Critical Illness
Pays a lump sum on diagnosis of a defined serious condition such as cancer, heart attack, or stroke. Provides immediate capital to the business.
Cancer, heart attack, stroke, MS
Income Protection
Replaces monthly income when illness or injury prevents you from working. Covers conditions that CI may not, including recovery periods and mental health.
Back injury, surgery recovery, anxiety, long COVID
Together
CI may not pay for a broken leg that keeps you off work for three months. IP may not provide the capital injection needed after a cancer diagnosis. The hybrid covers all angles.
Complete protection, no gaps
Independent Policy Analysis
CIExpert provides an independent, condition-by-condition comparison of critical illness policies across the market.
VitalityLife SIC 3x
Recommended18,659
CIExpert Score
3
Gold
4
Silver
64
Bronze
71 preferential conditions total
Royal London
Comparison17,743
CIExpert Score
0
Gold
3
Silver
30
Bronze
33 preferential conditions total
Market Rankings
| Rank | Provider | Policy | Score |
|---|---|---|---|
| 1 | VitalityLife | SIC 3x, Adult Only | 18,659 |
| 2 | Royal London | Standard, Adult Only | 17,743 |
| 3 | Legal & General | + Adult Extra | 17,574 |
| 4 | LV= | Enhanced + Standard Child | 17,441 |
| 5 | Zurich | Business Only, Select | 17,309 |
| 6 | Scottish Widows | Protect | 17,055 |
| 7 | Aviva | Business Only | 16,618 |
Source: CIExpert Ltd (Report CIE537666, 21 April 2026). Male non-smoker age 50, £200,000 level cover, 19 years.
VitalityLife scores 5.16% higher than the nearest competitor (Royal London) and leads the market with 3 gold preferential conditions compared to zero for Royal London. Gold conditions have an important impact on the overall statistical ranking and indicate superior wording with a higher likelihood of paying out.
The recommendation for VitalityLife also rests on the SIC 3x multiple-claim structure and the fact that it is a standalone critical illness policy without a life insurance rider, which provides a cleaner position for corporation tax deductibility.
Vitality Programme & Rewards
Your plan includes the Vitality Optimiser and Vitality Plus, rewarding an active lifestyle with premium discounts and partner benefits.
Vitality Optimiser
Premium discounts for healthy living
The Optimiser gives you an upfront discount on your premiums from day one. Your premium is then reviewed annually based on your Vitality status. The healthier and more active you are, the lower your premiums.
As someone who actively plays rugby, you are well positioned to achieve Gold or Platinum status, which would keep your premiums at or below the standard insurance rate.
Bronze
+2.5%
No engagement
Silver
+1.5%
Low engagement
Gold
+0.5%
Moderate
Platinum
0%
High engagement
Potential saving: Over the full plan term, reaching Platinum status could save approximately £15,884 in premiums compared to staying on Bronze (£61,017 vs £76,901 total). Your active lifestyle with rugby puts you in a strong position to benefit.
Vitality Plus Rewards
£5.50/month, included in your quote
Vitality Plus gives you access to partner discounts and rewards. You also receive one free Vitality Healthcheck in your first plan year.
Apple Watch
Get active, get an Apple Watch at a significant discount
SportsShoes.com
50% off one pair of in-season running shoes each plan year
Waitrose
Up to 25% cashback on Good Health food when you get active
Caffe Nero
Weekly handcrafted drink or smoothie with 12 activity points
Rewards are subject to terms and conditions. Vitality reviews the programme annually. Visit vitality.co.uk/rewards for full details.
Corporation Tax Efficiency
Both policies are paid by the company and treated as allowable business expenses.
How It Works
Solvexis Consulting Limited pays the premiums as a business expense. The premiums are deductible against corporation tax at the current rate of 19%, reducing the effective cost of the cover.
In the event of a claim, the benefit is paid directly to the company and treated as a trading receipt. The company then uses the funds to cover ongoing costs, pay dividends, or fund recovery.
Annual Tax Position
With £200k CI
Gross Annual
£5,498.76
CT Relief
£1,044.76
Net Annual
£4,454.00
With £150k CI
Gross Annual
£4,600.80
CT Relief
£874.15
Net Annual
£3,726.65
Policy Transferability
An important distinction between the two policies if the company structure changes.
| Key Person IP | Key Person CI | |
|---|---|---|
| Transfer to personal ownership | ||
| Transfer to another company | ||
| Premium affected by transfer | N/A | No change |
If Solvexis Consulting Limited were to be wound down, the Critical Illness policy can be transferred to your personal name or to a new company without affecting the premium or terms. The Income Protection policy, as a Key Person policy, is tied to the company and cannot be transferred.
Supporting Documents
All quotes, research, and product literature for your reference.
Your Quotes
Legal & General Product Literature
Next Steps
We have a call scheduled for Friday morning to discuss this recommendation.
I would suggest reading through this page and the supporting documents before we meet. If anything is unclear or you have questions in the meantime, please do not hesitate to call or email me.
Review
Read through this recommendation and the supporting documents at your convenience.
Discuss
We will go through everything together on Friday at 9:00 AM and answer any questions.
Apply
Once you are happy to proceed, I will guide you through the application process.