A death in service benefit for employee’s families
A Relevant Life Plan is a cost-effective way for your client to arrange life insurance for their employees. It pays a lump-sum to the employee’s family if they die or are diagnosed with a terminal illness with a life expectancy of less than 12 months.
Relevant Life Plans can be tax efficient for both your client and their employees. The policy is most suited to small businesses that don’t qualify for a large group scheme, or for those who want to top-up an existing group policy.
The plan counts as a business expense so it’s tax deductible and doesn’t count towards annual or lifetime pensions.
Inheritance Tax benefits
Keeping the plan in trust can offset future changes to the current Inheritance Tax threshold.
Includes Accidental Death Benefit
Your client is covered while we process their application.
We’ll beat competitors
In some instances, you may be able to use Price Beater to get the best price for your client. Please see our Price Beater guide for more details.
Changing Your Policy option
Allows your client to increase cover on specified events, without further medical questions. Eligibility criteria and restrictions apply.
Can be converted to a personal policy using Continuation Cover or moved to a new employer if an employee leaves the business.
Access included as standard. Personalised practical and emotional telephone support from a registered nurse. Provided by RedArc Assured Limited.
For full details, download the Product Profiles document.
|Type of cover||
The following types of cover are available:
|Death in the first year||
Benefits and options
|Accidental Death Benefit|
|Changing your policy (previously known as Guaranteed Insurability Option)||
|Terminal Illness Cover||
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