Provide peace of mind for your family, save your business money, and avoid unnecessary tax
Relevant Life Plans: Tax-Efficient Protection for Company Directors and Employees
Why Protection Matters
Life is unpredictable. The right protection ensures your family’s financial security, no matter what happens. We help you choose the right protection for your circumstances.
£5.32bn
paid in protection claims 2024
£18,700
average protection payout
98%
of claims paid in 2024
FCA
authorised & regulated
Tax Efficiency
Premiums paid by your company are usually allowable as a business expense, reducing your corporation tax liability. This makes the real cost to your business significantly lower than the headline premium.
No National Insurance Contributions
Unlike salary or bonuses, there’s no employer National Insurance to pay on Relevant Life Plan premiums, saving your business 13.8% on the cost.
No Benefit-in-Kind
Employees don’t pay income tax or National Insurance on the cover provided, meaning it won’t increase your personal tax bill or affect your take-home pay.
Inheritance Tax Advantage
Because the policy is written in trust, the payout doesn’t form part of your estate and is therefore not subject to the 40% inheritance tax charge.
Portable Coverage
If you change employers or close your business, the policy can often be transferred to a new employer or converted to a personal policy, ensuring continuity of cover.
Flexible Protection
You can choose the level of cover, term length, and even add options like critical illness cover or income protection to create a comprehensive protection package.
Who Is It For?
- Business owners and directors of limited companies who want tax-efficient life cover
- Small business employees where setting up a group life scheme isn’t practical or cost-effective
- Contractors and consultants operating through their own limited company
- High-earning professionals looking to maximize tax efficiency on their protection needs
- Anyone who wants the benefits of death-in-service cover without being employed by a larger organization