Relevant Life Cover

Relevant life insurance allows business owners to provide their employees with death-in-service benefits outside a registered group life scheme.

It’s designed to pay out a lump sum on death or diagnosis of a terminal illness. Straightforward and cost-effective, it can also be tax-efficient for the business and the employee.

The cover must be placed in trust to ensure any benefit may be paid to the person covered or their beneficiaries.

Where is Relevant Life Insurance suitable

Even the smallest of businesses can offer this benefit; allowing them to attract top talent with a competitive benefits package.

• Businesses without a group scheme
• High earning employees nearing maximum allowances
• Topping up life insurance benefits for group schemes

Benefits of Relevant Life Insurance

• Tax efficient for the business
• Tax efficient for the employee
• Separate from the employee’s lifetime pension allowance