Relevant Life Policies
A Relevant Life Plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the employee dies whilst employed during the length of the policy. It will also payout if the employee, whilst employed, is diagnosed with a terminal illness and meets our definition at any time during cover.
A Relevant Life Plan is paid for by the employer and generally the premiums are a tax deductible expense to the business.