What is a Relevant Life Plan?
Imagine a life cover specially tailored for your employees, but with the added advantage of it being categorised as a business expense.
That’s precisely what the Relevant Life Plan offers. Not only are the premiums treated as an allowable business expense by HMRC, but there’s also no added weight of income tax or National Insurance.
Whether you have junior staff or company directors, this plan is designed to cater to everyone, ensuring they are covered during their time with your company.
Why Employers Love It
The Relevant Life Plan is not just another tick in the box. It’s a cost-effective method to grant your employees life cover. By taking care of regular premiums based on the chosen cover level, businesses can rest easy knowing they’re compliant with legislative requirements.
Flexibility at Its Best
Life is unpredictable. Circumstances change. With the Relevant Life Plan, you’re not tied down. You can modify beneficiaries as life evolves. If there’s a transition between limited companies, the plan adapts. And if there’s ever a need, it can even be converted into a personal plan (though it’s essential to note that in such cases, it wouldn’t be tax-deductible).
Ready to Explore the Benefits of a Relevant Life Plan?
Completing our straightforward form is the first step. Fill it in, and one of our dedicated Eazitax experts will be in touch shortly to guide you through every detail.