Relevant Life Cover
Relevant Life Cover is a specialised life insurance policy designed to benefit small businesses and their employees. This policy offers individual death in service cover, providing peace of mind and financial security for employees and their families.
A key advantage of Relevant Life Cover is its tax efficiency. The premiums, paid by the employer, are usually considered a business expense, making them eligible for relief on income tax, national insurance, and corporation tax. This helps businesses reduce the cost of providing life insurance to employees while ensuring they receive valuable coverage.
Moreover, Relevant Life Cover is set up in trust, ensuring that any claim proceeds are exempt from inheritance tax. This ensures that employees' families receive the full benefit of the policy without additional tax burdens.
At Austin Friars, we understand the significance of offering valuable benefits to employees. That's why we provide a range of Relevant Life Cover options tailored to suit each business's unique needs. Our experienced professionals are here to guide you through the process and help you select the right coverage that aligns with your budget and provides the best protection for your employees.
In addition to individual death in service cover, some Relevant Life policies may also include extra benefits, such as terminal illness cover or critical illness cover, providing comprehensive protection in times of serious illness or medical conditions.
If you want to explore how Relevant Life Cover can benefit your business and your employees, don't hesitate to contact us. Our team is ready to answer your queries and assist you in finding the right coverage for your specific requirements.