Relevant Life Plans
Tax Efficient Life Insurance for Business Owners & Their Employees
Many businesses wish to offer additional benefits to their valued employees as part of a comprehensive scheme, and life insurance often forms the foundation of such a package. A Relevant Life Plan enables your business to provide life insurance cover with an option to also add significant illness cover, for your employees, including Directors. With a Relevant Life Plan, you will be able to ensure your most valued staff receive the peace of mind of knowing they and their loved ones are protected in the event of their death or significant illness (if selected).
A Relevant Life Plan must be issued under trust, from the start of the plan. We will arrange the trust, free of charge, as part of our service. This stipulates who the employee would like the benefit payable to. This includes the death benefit and also the significant illness benefit if selected. The employee is able to benefit from the significant illness cover, or this can be paid to their chosen beneficiary.
Spectrum Financial Advice have advised many business owners on suitable Relevant Life Plans. Our access to a wide range of policies gives you complete flexibility and allows you to choose the exact level of cover you require. Some policies provide you with an option to add employee significant illness cover.
To find out more, continue reading and also have a look at our frequently asked questions (FAQs) towards the end of the page.
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