A flexible benefit for those who matter most.
A Relevant Life Policy is an individual cover set up by a company to benefit that individual’s family and dependents. This is a more flexible alternative to having a death in service (Group life) benefits and provides life cover on an individual basis.
This type of policy ensures you are covered, without compromise, in a tax-efficient manner and helps employers provide added peace of mind for their people as a benefit to both them and the business.
Who suits a Relevant Life Policy?
Relevant Life Policies suit owner-managed businesses, company directors, and other employees who might want high levels of life cover but with the tax and other benefits associated with large group death-in-service schemes.
- Small businesses that don’t have enough eligible employees to warrant a group life scheme
- Owners and company directors that want tax-efficient life cover with the benefit being higher than four times their salary
- Company directors who require life cover as part of their package
- High earning employees or directors who have substantial pension funds and don’t want their life cover benefits to forming part of their lifetime allowance
Relevant Life policies are not suitable for self-employed or equity partners themselves, however, their employees are.
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