Relevant Life Policy

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Relevant Life Policies are a cost-effective alternative or ‘top-up’ to group death in service benefit.

Many companies offer their employees a ‘death in service’ benefit, paying the employee’s family a lump sum if they die while they’re employed. However, this kind of benefit doesn’t suit every company.

• It’s not normally available to companies with fewer than five employees
• It’s arranged on a group basis which makes it harder to tailor benefits to suit your most valuable people
• It may not suit everybody either, high earners with large pension pots can find it takes them over their Lifetime Allowance

There is however a tax-efficient and cost-effective alternative for both you and your employees. Save nearly 50% tax (compared to an ordinary life policy) and reward your people with discounts and rewards that help them lead a healthy lifestyle when you take out a Relevant Life Policy with VitalityLife.

An SME employee benefits package. Big business benefits for small businesses.

A Relevant Life Policy from VitalityLife comes with a great range of discounts and rewards. Allowing you to offer your employees a wide-ranging benefits package which not only rewards them but helps them to live life well.

Healthy employees:

• are more engaged
• take less time off sick
• are more productive

Having a Relevant Life Policy can also help with recruitment and retention.

Find out how discounts and rewards works

Who is RLP suitable for?

A Relevant Life Policy is suitable in many situations, not just SMEs looking for life cover or an employee benefits package.

• Company directors

  Directors of limited companies can enjoy valuable tax benefits if the premiums for life insurance are paid by oe company instead of from personal income after tax.

• Flexible cover

  A Relevant Life Policy can provide individually calculated cover levels so are suitable where companies only want to reward several employees or provide variable cover.

• High earners

  The benefits of Relevant Life Policies do not count towards the current Lifetime Allowance of £1.25 million, above which tax is currently charged at 55% tax (on death).




Our strengths

• Indexation option available so cover increases in line with inflation
• High cover limits –typically 15 or 20 times remuneration (dependent on age)
• Three continuation options, all without further underwriting
  • Replace with a personal protection policy (if not yet reached 65th birthday)
  • Taken over by new employer (no age limit)
• Personally take over the policy on the same terms and conditions (no age limit)



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Need help exploring the right options to protect your business?

Call 03339204711 03334149323 to talk to a business adviser today.

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