Relevant Life is a death-in-service benefit for your beneficiaries, written in Trust, which has practical and financial benefits. Any proceeds paid from the plan would not form part of the employee’s estate and would not be liable to Inheritance Tax.  

Relevant Life can also be a tax-efficient way of arranging life protection for a Limited Company director/employee as premiums are paid by the Company and treated as a business expense, saving on Corporation Tax. Premiums are also not subject to National Insurance for the employer or employee.

You might also like to consider a policy that can be transferred to a personal plan without further underwriting in the event your company ceases trading. Premiums would then be payable from your own personal (taxed) income.