Relevant Life Plan

• No minimum amount of cover. Driven by minimum premium

• Depends on the employee’s age and remuneration:
  • Age 18 to 49 – up to 25 x remuneration
  • Age 50 to 59 – up to 20 x remuneration
  • Age 60 to 73 – up to 15 x remuneration
• Remuneration includes salary, bonuses, benefits in kind and regular dividends from shares in the employer's company or a company within the employer's group of companies

The following types of cover are available:

• Level cover
• Increasing cover
• Increasing cover increases each year in line with changes in the Retail Prices Index (RPI), up to a maximum 10%. The premium increases in line with the change in the RPI multiplied by 1.5 subject to a maximum increase of 15% per year

• 1 year for level cover
• 2 years for increasing cover

• 50 years

• 18 years old. The policy should be set up as a Relevant Life Plan in the usual way, with the business as the policy owner and written under trust
• The minimum age at the end of the policy is 29

• The maximum age for buying a policy is 73 years old
• The policy must end by your client’s 75th birthday

• Guaranteed. Unless Increasing cover is selected
• Premiums are payable monthly or annually by Direct Debit by the employer

• Policies must be placed into a Relevant Life Plan trust

• If the life insured dies within the first year of holding the policy, as a result of suicide or intentional and serious self-injury or an event where, in our reasonable opinion, the life insured took their own life, the policy will be cancelled.

• Included
• Download Accidental Death Benefit cover certificate PDF size: 78KB

• Can increase cover on certain specified events, without need for further medical evidence
• Eligibility criteria and restrictions apply

• Your client can request to make other changes to their plan. A new policy may need to be set up

• Included 

• Access included. Service provided by RedArc Assured Limited

• Automatically included for all policies with a term of two years or more