Relevant Life Insurance

Relevant Life Insurance for Company Directors: Protecting Your Future

Protect your company's future with Relevant Life Insurance for company directors

As a responsible and forward-thinking company director, you recognise the importance of safeguarding your company's success. But, you also want the same for your family. That's why we at NJW Financial specialise in delivering tailored life insurance solutions designed specifically for company directors.


Our expert services have already helped numerous companies protect their future and guarantee their families' financial stability. By working with us, you will experience a wealth of benefits, including the peace of mind that comes from knowing your family will be financially secure if the worst were to happen.


Tax-efficient Relevant Life Cover for company directors offers an ideal way to provide financial protection for your loved ones. Your business can provide you with Death in Service benefits of up to 25 times your annual income and treat the premiums as both tax-deductible and non benefit in kind (P11d) for you.

At NJW Financial, we understand that every company director's situation is unique, which is why we provide customised solutions that cater to your specific requirements.


Take the step of securing your family's future today. Contact us to learn more about our Relevant Life Insurance solutions for company directors.

Take control now and get in touch today to see how Relevant Life can help you.

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Relevant life insurance is a type of death-in-service benefit that provides life insurance coverage to the employees of a company. It is a tax-efficient way for employers to provide life insurance coverage to their employees without having to pay the benefits through their company pension scheme. This type of insurance is designed specifically for the purpose of providing life insurance coverage to key employees within a company.

There are several benefits to relevant life insurance, which make it an attractive option for both employers and employees. Some of the key benefits include:


Tax efficiency: Relevant life insurance is a tax-efficient way for employers to provide life insurance coverage to their employees. The premiums are paid by the employer, but are not considered a taxable benefit for the employee. The company can also treat the premiums as a cost of doing business therefore tax deductible.


Customizable coverage: Relevant life insurance allows employers to tailor the coverage to meet the specific needs of their employees. This means that the employer can choose the amount of coverage, the term of the policy, and the type of coverage that is most appropriate for their employees.


Portable coverage: Relevant life insurance coverage is portable, meaning that the employee can take the policy with them if they leave the company. This can be a significant benefit for employees who are concerned about losing their life insurance coverage if they leave their job. 

Relevant life insurance is a great option for anyone who is looking for a cost-effective and tax-efficient way to provide life insurance coverage for their employees. A key eligibility requirement is that there must be an employer-employee relationship therefore it is perfect for those who own their own limited company


Q: Who can take out relevant life insurance?


A: Relevant life insurance is designed specifically for company directors and key employees.


Q: How is relevant life insurance different from other types of life insurance?


A: Relevant life insurance is different from other types of life insurance in that it's taken out by the company rather than the individual and the premiums are tax deductible.


Q: Is relevant life insurance only available to directors?


A: No, relevant life insurance can be extended to key employees as well.


Q: How much does relevant life insurance cost?


A: The cost of relevant life insurance will depend on a number of factors, such as the amount of coverage you need and your age and health.

What is Relevant Life Insurance?

Relevant life insurance is a type of life insurance policy that's designed specifically for company directors. It's a tax-efficient way of providing life insurance cover for directors and key employees, without the need for a company scheme. The policy is taken out by the company and is paid for using company funds, which means that the premiums are tax deductible.


How Does Relevant Life Insurance Work?

Relevant life insurance works in much the same way as any other life insurance policy. The policyholder (in this case, the company) pays a premium each month, and in the event of the policyholder's death, a lump sum is paid out to their beneficiaries. The key difference is that with relevant life insurance, the policy is taken out by the company rather than the individual. This means that the premiums are paid using company funds and are therefore tax deductible.


What is the tax treatment for Keyman Insurance

There are several reasons why relevant life insurance is the best option for company directors:

  • Tax Efficiency: As mentioned, the premiums for relevant life insurance are tax deductible, which means that they're a tax-efficient way of providing life insurance cover.
  • No Need for a Company Scheme: With relevant life insurance, there's no need for a company scheme, which makes it much simpler and more cost-effective.
  • Coverage for Key Employees: As well as providing coverage for company directors, relevant life insurance can also be extended to key employees. This means that your business is protected in the event of the death of any important staff members.
  • Customizable Coverage: Relevant life insurance policies can be tailored to meet the specific needs of your business, so you can choose the coverage that's right for you.


Frequently Asked Questions

Q: Who can take out relevant life insurance?

A: Relevant life insurance is designed specifically for company directors and key employees.

Q: How is relevant life insurance different from other types of life insurance?

A: Relevant life insurance is different from other types of life insurance in that it's taken out by the company rather than the individual and the premiums are tax deductible.

Q: Is relevant life insurance only available to directors?

A: No, relevant life insurance can be extended to key employees as well.

Q: How much does relevant life insurance cost?

A: The cost of relevant life insurance will depend on a number of factors, such as the amount of coverage you need and your age and health.

We aim to offer the highest quality life insurance coverage for the most competitive premiums. Get cover in 3 easy steps:

Life insurance check up

Tell us about your family and finances, so we can work out your protection needs.

Impartial advice on what you need

Clear action plan on what type of cover you might require, for how long, and why.

The best insurers to cover you

Get cover designed to meet your unique needs.

Ready to get started?

Whether you already have insurance or would like to explore more possibilities for your family protection, our insurance review is a great way to take the next step.

Call 02895 575010 or 0141 291 5044 or send us a message using the form below and we’ll tend to your enquiry right away.