Relevant Life Plan
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.
Key documents and tools
Key documents
Key documents
Tools and calculators
Reasons to recommend Relevant Life Plan
High level of cover for employees’ remuneration, including salary, bonuses and regular dividends
A cost-effective way for a small business to provide life insurance to an employee
Can be converted to a personal policy using Continuation Cover or moved to a new employer if an employee leaves the business
Key features and benefits
Tax-efficient 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
Writing the plan in trust can help manage future inheritance tax liability.
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.
Continuation Cover
Can be converted to a personal policy using Continuation Cover or moved to a new employer if an employee leaves the business.
Support from Umbrella Benefits
Wellbeing Support
Access included as standard. Personalised practical and emotional telephone support from a registered nurse. Provided by RedArc Assured Limited.
Product details
Cover overview
For full details, download the Product Profiles PDF: 905KB document
Minimum cover |
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Maximum cover |
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Type of cover |
The following types of cover are available:
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Minimum term |
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Maximum term |
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Minimum age |
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Maximum age |
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Premiums |
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Trusts |
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Death in the first year |
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Benefits and options
Accidental Death Benefit | |
Changing your policy (previously known as Guaranteed Insurability Option) |
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Other changes |
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Continuation Cover |
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Wellbeing Support |
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Terminal Illness Cover |
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