Relevant Life Protection

A Relevant Life Policy is a single life, stand-alone death-in-service plan with or without critical illness. They are governed by the same legislation that deals with group schemes. However unlike most large employer provided schemes they are ‘non-registered’, so do not fall under pensions legislation.

RLPs provide life cover for the benefit of employees and directors dependants paid through a discretionary trust. They are taken out and paid for by the employer. Any employee of a business, including directors can benefit from these policies.

The main difference between a RLP and a private life protection plan is that the company pays the premiums in most cases before N.I & Tax and also is not treated as a benefit in kind.

Here are some of the options available:

  • Level cover
  • Renewable cover
  • Proceeds payable free of income tax and National Insurance
  • Ideal for smaller businesses with too few members to obtain a group life scheme
  • Premiums are treated as an allowable non taxable business expense

Contact us to find out more about these tax efficient policies


Group Protection

Most businesses offer their employees a level of financial protection should they fall ill or die. Group Protection schemes are designed to do this on a larger scale. By having one scheme that covers everyone, a business is able to offer employees a better package which both protects them and the business.

Schemes are very much tailored around the businesses requirements and can range from a limited death in service to full critical and income protection cover along with private medical cover.

An ever increasing awareness of employees to the value of these scheme can help you attract staff more easily and also help to retain them.

Some of the options available:

  • Policies can include, life cover, critical illness, income protection and private healthcare
  • Reduces financial uncertainty for the employee and shows a duty of care on behalf of the employer
  • Over sea business travel normally covered
  • Can be a deciding factor in obtaining and retaining the best employees