Relevant Life Plans
Relevant Life Plans
A staff benefit for your employees
A business can save up to 50% in tax & make no national insurance contributions
A staff benefit for your employees – life insurance cover for your employees with additional benefits for the business such as its tax deductible business expense and the benefits are usually free from inheritance tax.
The policy is owned by the employer and the premiums are paid by the business.
What is covered under a Relevant Life Policy?
Relevant life will pay out on death or an earlier diagnosis of a Terminal Illness (12 months or less to live). There is also the option to include an amount payable on diagnosis of a serious illness such as cancer, heart attack or stroke.
The lump sum pay out will go to your employee’s family or directly to the employee if they were diagnosed with a terminal illness.
Who is covered by a Relevant Life Plan?
The employees of the business will need to be UK residents and must be officially employed by the business.
A UK resident employee includes company directors and salaried partners. However, the cover will only be available to employees up to the age of 75.
What are the tax benefits of a Relevant Life Plan?
As it’s a tax deductible business expense, a business can save up to 50% in tax and make no national insurance contributions.
Get in touch about Relevant Life Plans
Contact Details:
11 Mallard Way, Mallard Way,
Crewe, CW1 6ZQ
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