Shareholder Protection Partnership Protection Key Man Insurance Business Loan Protection Relevant Life Policy Income Protection

Shareholder Protection

Shareholder protection could prove to be vital to your business in the event of death, or critical illness, of a shareholder. Have you got the right cover in place? Find out more

Partnership Protection

In the event of the death, or critical illness, of one of your business partners how would you provide the funds to buy out their interst and ensure the continuity of the business? Find out more

Key Man Insurance

Should a key employee of your business die or suffer a critical illness have you got the right plans in place to negate the financial ramifications this could have? Find out more

Business Loan Protection

How would your business repay any business loans should a key person or guarantor die or become critically ill? Find out more

Relevant Life Policy

Could you or your employees benefit from the tax efficient death in service benefits offered by a Relevant Life Plan? Find out more

Income Protection

Would you like the security of knowing that you have protection in place should you suffer loss of earnings due to accident or sickness? Find out more

Relevant Life Policy

A Relevant Life Policy is a  type of tax-efficient insurance that can be particularly useful for small businesses, directors and high earners. It's term assurance that provides death-in-service benefits for employees in the form of substantial lump sums. The plan is paid for by the employer. 

relevant-life-cover.jpgThis product is set up to ensure full tax benefits are received by the beneficiaries, who must be a named person (or persons) such as a partner, child or other family member. The plan provides death benefits and can include terminal illness cover too. It typically applies to individuals aged up to 75. 

The policy is designed to give directors and employees tax-efficient life insurance which can be paid by a limited company. A big saving can be made on life cover as Relevant Life Policies tend to work out much cheaper than alternative solutions.

Relevant Life Policies offer the opportunity to provide death-in-service benefits to staff whose needs are not met by group schemes. 

This type of policy can be especially helpful to small businesses and high-earning individuals. Small businesses often find that group life providers will not offer a scheme for fewer than five members. A Relevant Life Policy can be taken out on a single life basis, giving an alternative way to offer death-in-service benefits to staff, no matter the business size. 

Registered group life schemes are not always convenient for high-earning individuals, because they fall under pension scheme rules. Again, Relevant Life Policies offer a solution. Directors wishing to obtain death-in-service policies for themselves, (without necessarily including all their employees), may find Relevant Life Policies useful. Alternatively, directors may wish to obtain additional cover for themselves beyond what is available through the company scheme. 

High earning individuals at risk of reaching their lifetime allowance for pensions will also find relevant life policies tax-efficient, as the benefits do not count towards the lifetime allowance.

Income tax and national insurance are not payable on premiums. Employers may be able to deduct premiums as a trading expense. Benefits are paid through a discretionary trust, avoiding probate delay. We are experts in arranging this type of cover and are well-placed to help you take advantage of tax-efficient relevant life policies. 

We treat the protection of our clients as seriously as they do and we always aim to provide a first class, tailored service and relevant, fit for purpose solutions.

If you would like a free, no obligation quote, further details about our services or have any queries please contact us.

Information regarding taxation levels and basis of reliefs are dependent on current legislation, individual circumstances, are not guaranteed and may be subject to change.

 

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