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Life, Income Protection & Critical Illness Cover
Global cover at no extra cost
What is Relevant Life Insurance?
Relevant Life Insurance is an individual Death in Service life assurance policy available for employees, including directors, of the company. The business pays the premiums based on the chosen level of cover. In the unfortunate event of the person's death or diagnosis of critical or terminal illness during their employment within the term, the plan provides a fixed, one-off lump sum payment.
Affordable coverage for employees and owners of limited companies
If you own or work for a limited company, you can now enjoy the benefits of paying for your life and significant illness cover through your company. This unique arrangement allows the premiums to be treated as an 'allowable business expense,' resulting in potential savings of up to 50% compared to conventional life insurance policies. It's important to note that tax treatment may vary depending on individual circumstances and is subject to change.
To be eligible for Relevant Life Insurance, the covered individual must be an employee of a UK limited business.
99%
Coverage provided at no extra cost
1,900+
Happy policyholders covered
5/5
Average customer satisfaction score
Added peace of mind with tax efficiency
Relevant Life Insurance offers significant advantages for directors and employees of small businesses, particularly in terms of tax efficiency. While the coverage remains personal to you and your employees, the policy itself is considered a business expense, making it tax-deductible and exempt from annual or lifetime pension allowances.
Here's how you can benefit:
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The limited company pays for your life insurance premiums, relieving the burden from you.
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The premiums are not classified as a benefit-in-kind or a P11D benefit.
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Neither you nor the limited company needs to pay National Insurance contributions.
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The limited company can claim Corporation Tax Relief on premium payments, resulting in a 20% saving.
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The benefit payment received is not counted towards your annual or lifetime pension allowances and is tax-free.