Life - Corporate
Relevant Life Cover
A tax-efficient way for small businesses to provide death-in-service benefits for their directors and employees.
Get a Personalised QuotePlan Overview
Relevant Life Cover is a standalone death-in-service policy that provides a lump sum to an employee's family if they die while employed. It's set up and paid for by the company but is designed for individual employees, making it ideal for small businesses and high-earning directors who may not want or need a full group scheme. Crucially, it's treated as a business expense and not a "benefit in kind".
Key Features
- Tax-efficient: Premiums are not a P11D benefit and are typically tax-deductible
- High levels of cover available (e.g., up to 25x remuneration)
- Not included in lifetime pension allowance calculations
- Payouts are made via a discretionary trust
- Portable if the employee leaves the company
Primary Benefits
- Tax Savings for Company & Employee: A highly efficient way to provide life cover.
- Attracts Directors: A valuable perk for key personnel in small companies.
- Simple Setup: Easier to arrange than a full group life scheme.
- Family Protection: Gives employees and their families peace of mind.
Is This Plan Right For You?
Company directors, high-earning employees, and small businesses that want to offer death-in-service benefits without the complexity or cost of a registered group life scheme.