You can now quote and apply online for our Relevant Life Plan using our award winning OLP Connect system. We’ve also created a handy guide for you (PDF) which explains the changes from a standard application, and how to process an RLP application using OLP Connect.
Click the ‘Quote and Apply’ button to the right of the page to start submitting your RLP business with us today.
A Relevant Life Plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the employee dies whilst employed during the length of the policy. It will also payout if the employee, whilst employed, is diagnosed with a terminal illness and meets our definition, except in the last 12 months of the policy. A Relevant Life Plan is paid for by the employer.
*Refer to our Key Features Document for more information.
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Relevant Life Plans are similar to most other types of life cover except they aim to provide a tax efficient benefit provided by an employer for an employee.
This example shows the potential saving (PDF - 36KB) that could be made.
Use our calculator to demonstrate how effective a Relevant Life Plan can be for your clients.
A Relevant Life Plan is designed to be written in a discretionary trust (Legal & General's Relevant Life Plan Trust) at outset, with the employee’s family and dependants as beneficiaries. If the plan is not placed in trust at outset, your client should seek expert legal and tax advice on the consequences of this.
Start submitting protection business today.
Relevant Life Plan sales aid (Q33189) PDF: 264KB
Relevant Life Plan - Best Practice (Q46451) PDF: 122KB
This is not a consumer advertisement. It is intended for professional financial advisers and should not be relied upon by private customers or any other persons.