Relevant Life Insurance

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If something were to happen to you or one of your employees, would the families and beneficiaries be financially secure? A relevant life policy is a way of providing death in service benefits on an individual basis no matter how small your  business is.

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How can a relevant life policy help you?

If you are a business owner or self-employed and wish to provide the benefit of life insurance in a tax efficient way for yourself and / or a handful of employees, you may wish to consider a relevant life policy.

Benefits of Relevant Life include:

  • Lump sum on the death (or diagnosis of a terminal illness) of the person insured
  • Premiums classed as business expense, therefore benefit from corporation tax relief
  • Paced in trust for beneficiaries, therefore remains outside the estate for inheritance tax purposes
  • Does not count towards the Pension Lifetime allowance

Questions to consider

  • Who does your business rely on for contribution to turnover, client introductions, operations management?
  • Would your business be affected if a key employee were taken ill or even worse?
  • What plans do you have in place if this were to happen?
  • In view of the difficult economic climate, would you be able to retain clients / keep employees motivated / repay loans?
  • How would you keep control of your business if something happened to one of your partners?
  • Is any debt adequately covered should the worst happen?
  • And what about the families… can they maintain their standard of living without support from the business?
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Meet the team

Cate Mason

Cate Mason

Client Executive – Business Protection

James Porter

Head of Business Protection

Tom Stevenson

Client Adviser

Cate Mason

Client Executive – Business Protection

James Porter

Head of Business Protection

Tom Stevenson

Client Adviser