Relevant Life
What is it?
Life Cover paid for by your business. A personal Life Policy funded by your limited company. If you die, a lump sum is paid directly to your loved ones, helping provide financial security when they need it most.
Who’s it for?
Directors and employees. Ideal for company directors and salaried employees who want to protect their families while making the most of their business structure. It’s not designed for sole traders.
What does it cover?
Financial protection when you die. The policy can pay out a tax-free lump sum if you die, or if you’re diagnosed with a terminal illness, helping your loved ones manage bills, commitments and everyday living costs.
Who pays?
Your limited company. Your business pays the premiums rather than you personally. This can make the cover more tax-efficient, with premiums potentially treated as a business expense, subject to the usual conditions.
Is it tax-efficient?
A potentially tax-smart way to fund Life Cover. Your business may be able to offset the premiums against Corporation Tax, and in many cases the premiums aren’t treated as a Benefit in Kind.
How much does it cost?
Potentially more cost-effective than paying personally. You get the reassurance of personal Life Cover, while the premiums are paid through your business. For higher earners, this can make it an especially attractive way to protect your family.
