Relevant Life Cover

 

Relevant life insurance is an insurance policy that a business can take out to provide life insurance for an individual employee. It’s an alternative way for employers to provide death-in-service benefits for their employees outside of a registered group life scheme.

Who is it suitable for?

 

What does relevant life insurance provide?

Relevant life insurance is applied for and paid for by the business. It is written into trust so it pays out a lump sum to the employee or their beneficiaries if they die or are diagnosed with a terminal illness while employed during the policy term. It complies with relevant life insurance legislation that makes it tax-efficient for the employer and employee; as a consequence it provides pure life insurance only, and no other financial benefits.

What are the advantages of relevant life insurance?

 

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