Chiltern Financial Services LTD

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Business Protection Insurance for Company Directors and Senior Staff

Relevant Life Insurance is a valuable benefit that can be provided by your Business to Company Directors and Senior Staff. It is a form of Key person life insurance, where the policy is paid for by the business, but the death benefits are paid Tax-Free to your family.

Relevant life insurance is designed specifically for business owners who want to offer life insurance (death in service benefit) to their Directors or Key employees on an individual basis. It provides a “tax-free” lump sum pay-out to beneficiaries that is also free from Inheritance tax (if a Trust is used).

The employer pays the Insurance premiums, which are treated as normal business expenses.

The policy is NOT treated as a benefit-in- kind to the individual, so your personal tax allowance will not be affected.

I’m sure the last thing anyone wants when seriously ill, is to be worried about how their family would cope financially if they died. This ‘Key person’ insurance benefit is a useful way of attracting and helping to retain staff, it shows the employer values their contribution and cares about their family.

If you would like to know more about Relevant Life Insurance, please contact Simon for a no obligation consultation.

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