Life insurance is the first step towards responsible financial planning for your loved ones. Relevant Life Cover is an ideal plan, designed for company directors, business owners and key employees in the UK, to secure life insurance protection through their business.
Relevant life cover is very similar to the traditional life insurance arranged by a company on behalf of an employee or director. In case of the death of the covered individual, beneficiaries are paid a tax-free lump sum.
Relevant Life Cover is a custom insurance plan, purchased by a business for an individual employee or director. The premiums are paid by the business and the beneficiary gets a lump sum in the event of death during the term of the policy.
This form of life insurance is useful for directors of limited companies, small business owners and senior staff who may not have access to a group life scheme.
Directors of limited companies
Small business owners
Key employees
Partnerships and LLP members
Contractors operating through limited companies
It is an ideal solution for business owners who want to provide financial protection to their employees’ families while making efficient use of company profits.
Many companies in the UK opt for group insurance as part of their employee benefits package, but this is not always practical for small businesses. Since group insurance schemes require a minimum number of employees, not every business is eligible for this kind of insurance.
Relevant Life Cover, on the other hand, is designed to fill this gap by providing several benefits. This allows the businesses to provide a life insurance facility without the administrative burden of running a full group policy.
Businesses can also choose relevant life cover with critical illness, depending insurer availability and policy structure. This adds an additional layer of security alongside life cover
For the safety of your team, choosing the right protection strategy is the first step.
If you are looking for a relevant life cover calculator to protect your employees. Contact AWS Private Finance. Our team can help with the required information so you can take a confident step towards long-term financial security.
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