Relevant Life Policies

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 provides life cover on an individual basis.

Who needs 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. For example:

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 form part of their lifetime allowance

Relevant Life policies are not suitable for self-employed or equity partners themselves, however, their employees are. Please also note that the value of tax relief depends on your individual circumstances. Tax laws can change.


Ask our team about the benefits of having relevant life cover policies


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