Relevant Life

An Individual Death in Service policy designed to leave a financial legacy for your family.

What is Relevant Life Insurance?
Relevant Life Insurance is policy which enables your employees to leave a financial legacy to their loved ones. The lump sum could pay out in the event of death or terminal illness with the proceeds normally being tax-free. The cover is commonly described as a “Death in Service” benefit. As such, the premium is paid for by the Business, not the employee.
How does Relevant Life cover benefit the Business?
  • This type of cover is often seen as an employee benefit which may help when trying to attract/retain employees.
  • The premiums may be classed as tax-deductible.
How does Relevant Life cover benefit the Employee?
  • The employee’s family are normally the beneficiary of the policy meaning they are provided for financially in the event of a claim.
  • The premiums are not classed as a P11D benefit.
  • The proceeds of a claim are not usually subject to Inheritance Tax. They also don’t normally impact an employee’s “Lifetime Allowance”.
What else do I need to know?
  • The premium is paid for by the Business, not the employee.
  • The cover is designed for small and medium-sized businesses as the medical underwriting must be completed with each employee covered.
  • All employees and company directors are eligible providing they are registered under PAYE.
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Welcome back! Please let us know who your adviser is and we will ensure that your query reaches them, alternatively you can now log into your case using the client portal. Please ask your adviser for further information.
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