Relevant life insurance is a type of life insurance policy that is taken out by businesses on behalf of their employees. It’s intended to offer a death-in-service benefit that gives the employee’s loved ones a lump sum payment that is tax-free in the case of their passing. Here are five explanations as to why a business could think about purchasing pertinent life insurance:
It’s important to note that relevant life insurance is subject to certain eligibility criteria and may not be suitable for all companies or employees. It’s crucial to seek professional advice from a qualified insurance professional or financial advisor to determine if relevant life insurance is appropriate for your company’s needs and comply with applicable laws and regulations.
Disclaimer: Information in regard to tax treatment and basis of reliefs are dependent on current legislation. Individual circumstances are not guaranteed and may be subject to change. This is to be used as a guide only and we always recommend speaking to a qualified tax advisor. The Financial Conduct Authority do not regulate trusts.
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