PUT LIFE COVER ON EXPENSES WITH A RELEVANT LIFE PLAN.
Do you want to provide valuable life cover and financial security for your employees and your family in a tax efficient manner? A Relevant Life Plan could be the answer.
What is a Relevant Life Plan?
A Relevant Life Plan is an individual ‘death in service’ life policy. It is a term assurance plan designed to pay a lump sum benefit if the person covered dies or is diagnosed with a terminal illness during their employment, within the term of the plan.
Relevant Life Plan’s are similar to most other types of life cover but can be a very useful tax efficient alternative providing valuable death in service benefits for you and your employees.
Added peace of mind tax free
The unique way in which Relevant Life Plan’s work mean you can effectively have the taxman help pay for the cover. While the cover is personal to you and your employees’ the policy counts as an allowable business expense so it’s tax deductible and doesn’t count towards annual or lifetime pension allowances.
In most cases Relevant Life Plan premiums and paid benefits qualify for full Income Tax relief, National Insurance relief and Corporation Tax relief.
What can you save?
A Relevant Life Plan could result in savings for a business when compared with a typical life policy. Premiums could be reduced by up to 49% if you’re a higher rate taxpayer and up to 40% for a basic rate taxpayer.
IT’S GOOD TO TALK
If you would like to discuss any of the products listed above please don’t hesitate to get in touch. Call now on “01337 830 844” or fill in the online form and I will contact you within 24 hrs.
YOU NEED TO KNOW
We do not charge fees for arranging Mortgage and Family Protection or General Insurance. We will charge a fee for arranging your mortgage. This is payable on application and would typically be £500, however this could be higher or lower, depending on the complexity of your case. Fees are not refundable after you have received your formal mortgage offer.