Relevant Life Policy Frequently Asked Questions
Our relevant life policy frequenlty asked questions will answer any questions you may have to help you save money and find the best policy for you.
What is a relevant life policy?
A Relevant life cover policy is a life insurance policy taken out by a company for an employee or himself, which will pay out directly to the employees beneficiary should they die whilst in employment.
How much does a relevant life policy cost?
Relevant life cover is equivalent to the cost of term life insurance but has been known to save up to 49% due to the fact that there is many tax advantages.
Are there any restrictions?
Yes. To qualify for a relevant life plan there are certain requirements the plan has to meet.
- The term cannot exceed the 75th birthday of the employee.
- It cannot be setup for tax avoidance.
Who Owns The Policy?
The company owns the policy.
Will I Have a Medical?
In most cases yes but it does come down to age, health and sum assured.
Who can take out a relevant life policy?
To take out a relevant life policy you need to be employed by a limited company or UK LLP based in the UK.