Relevant Life
Cover
This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan.
What You Need
to Know
Relevant Life Cover is a tax-efficient way for an employer to provide their employee(s) with life cover benefits. The policy is set up by the employer and pays out a tax-free lump sum on the death or the diagnosis of a terminal illness for an employee.
Relevant life cover may be suitable for:
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Employers who do not have enough employees to qualify for a group scheme but still want to provide their employees with protection of this type.
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Both directors and employees can have Relevant Life Cover. But whilst both are eligible a business could choose to offer this only to the directors.
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High earning employees with substantial funds may not wish their death in service benefits to form part of their lifetime allowance, which will not happen with a relevant life plan under current legislation.
Get in touch with one of our protection specialists in the contact form or alternately call us on 0800 211 8700.
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