What is a relevant life policy? How is it different to death in service benefits? Why would I need a relevant life policy? What are the cost savings of a relevant life policy over paying for life cover personally? Who … Continue reading
What is a relevant life policy? Quite, simply this is individual life cover set up by a company to benefit that individual’s family and dependents. This is a more flexible alternative to having death in service (Group life) benefits and … Continue reading
This a common question when it comes to looking into relevant life policies and unfortunately, in short, the answer is no. A new contract must be established by the… Continue reading
The level of cover is subject to normal underwriting limits and so the maximum level of cover is restricted to up twenty times salary and remuneration package (including pension contributions).
However, the limits and definition of remuneration packages vary… Continue reading
If you are a company director and you have personal life cover to protect your family and dependents then you could be paying more tax than you need to.
If you pay for life cover from your own bank account then you will be paying from post tax … Continue reading
A relevant life policy is priced the same as personal life cover by providers, it is who pays the premiums, and the tax treatment of premiums, that derives the cost savings.
There is no additional charge by insurers for having a relevant life cover. Continue reading
Arranging life cover for yourself can now be treated as a legitimate business arrangement and, with your company paying the premiums, there is also the potential of reducing your company’s Corporation Tax liability.
Here are some of the advantages of relevant life policies… Continue reading