What is Relevant Life Cover?
Relevant Life Cover is a tax efficient way for small businesses to provide stand-alone, single life, death in service cover. It is designed to provide a death in service benefit for employees of small companies and high earning individuals (including salaried directors). And as it will need to be written in trust – it will then pay a tax-free lump sum to the beneficiaries or dependants if the person covered was to die or was diagnosed with a terminal illness whilst employed during the term of the plan.
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