Relevant Life

Relevant Life cover is a form of death-in-service benefit that is set up and paid for by the company but pays out to a staff member, or directors’ beneficiaries on death or in the event that they are diagnosed with a terminal illness.

It is typically used by businesses that aren’t big enough to establish a group life scheme, but want to provide a perk for their directors and staff.

Relevant life cover is a tax-efficient alternative to group life assurance. A group life scheme often works out cheaper for larger groups, and those businesses with just one or even no members of staff wouldn’t usually qualify.

Relevant Life plans allow a company owner or director to still be able to cover themselves using their business rather than their own personal income, as well as providing the perk for employees.

It also has the benefit of reducing the firm’s corporation tax bill as can be treated as an expense. More importantly, relevant life cover is a useful way of attracting and retaining staff as it shows you value their contribution.

If you would like to see how much your company could save, please do not hesitate to call us for a quotation! 

We can arrange the policy our qualified affiliated companies.