What are the advantages of Relevant Life Cover?
Relevant life cover is paid for by your Limited Company and is designed to cover certain individuals within the business, namely the directors. The company ‘owns’ and pays for the policy and the proceeds are paid out to the relevant staff members family upon passing. This can be a lower-cost alternative to group life schemes which are set up for the entire company.
The premium costs the same as if you took out the policy as an individual. However, the overall cost is attributed to the company rather than the individual and is not taxed a s benefit in kind.
Getting the right advice for Relevant Life Cover in Cheshire
Aspire Financial Services is a specialist mortgage and insurance broker. We have access to wide range of insurance products to suit your needs and budget.
Contact us today to discuss your relevant life cover needs with our free 30-minute consultation.