Business Protection

We offer a flexible menu based business protection product that allows you to combine life and critical illness depending on your needs and budget.

Home > Services > Business Protection > Relevant Life

Relevant Life

Relevant-Life

A Relevant Life Plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the employee dies whilst employed during the length of the policy. It will also payout if the employee, whilst employed, is diagnosed with a terminal illness.

It can help smaller businesses attract and retain high-calibre staff by offering them attractive benefits packages that are also tax efficient. By arranging Relevant life, there are tax benefits for both the employer and employee, which are explained below:-

Employer benefits:

  • Corporation tax relief (so long as the premiums are wholly and exclusively for the purposes of the business);
  • No National Insurance contributions to pay on the policy payments paid to fund the Relevant Life policy.

Employee benefits:

  • No National Insurance contributions to pay on the policy payments paid to fund the Relevant Life policy;
  • The policy payments won’t be taxed as a benefit in kind; and
  • Policy payments and benefits don’t count towards annual or lifetime pension allowances.
MOST INSURANCE AND PROTECTION PLANS HAVE NO CASH IN VALUE AT ANY TIME UNLESS STATED OTHERWISE. THEY CEASE AT THE END OF THE PLAN TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

PP Finances is a trading name of PP Associates Limited. PP Associates Limited is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority.

At outset of our first meeting, we will provide your 'Information about our services' and explain you the cost and charges of our services. This will help you decide if our services are right for you and provide you details of our complaints process and regulatory information.

By accessing our website and using us as your advisers, you agree to have read our Data Privacy Notice | Terms of business | Sesame Network Privacy Policy | Mortgage Glossary

Registration address : PP ASSOCIATES LIMITED, 42 Boxtree Road Harrow HA3 6TH

Country of Registration: England and Wales, United Kingdom

© 2024 PP Finances