Cocoon Group Ltd

Client Details: Cocoon Group Ltd Green ArrowOverview

Cocoon Group Limited required a financial adviser to have a look at their current life policies for the Directors as well as setting up a pension scheme to comply with the new rules set out by the current government.

My first job was to look at the current cover of the Directors, whilst one of the Directors had sufficient cover to meet his liabilities and his monthly budget, the remaining Director was insured for an amount of money which I felt was too high and for the monies being paid on a monthly basis.

I also felt for the same budget, he could have reduced the amount of his life insurance and added critical illness cover, which is a really important product and for his young age, wasn’t overly expensive.

Green ArrowProblems

Directors were paying a monthly premium for Life Cover which for some members of the Management team were sufficient, there was one Director who had an amount which was too high for his current liabilities.

Cocoon also required a pension to comply with the new government scheme to provide all employees with auto enrollment pensions.

Green ArrowSolutions

I searched the market for a Life Policy to cover the Director who had an incorrect policy, this saved the company some money. I reviewed the other Director’s, these were all ok and within line of their current situations.

I looked at the pension schemes that the Directors wanted to set up for their employees and laid out several different options for them.

I also quoted the Directors on Key Man Insurance, something I believe is a benefit to a business this size.

Green ArrowOutcomes

The Director with the incorrect protection insurance, changed his life insurance to a more suitable policy, saving the company money but providing a higher standard of cover.

I also proposed ideas on setting a Pension system up for their employees to cover the client for auto enrollment.


The team members who achieved this are:

Rebecca Adams
Simply Financial Advice Ltd

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