Relevant Life Cover
These policies provide a tax-efficient way to offer directors, high earners and key employee’s Death In Service benefits. Simply put, they are an ‘individual Group Life’ policy. They enable a lump sum payment to be made to an employee’s family should they die.
There are tax efficiencies for employer and employee.
HMRC usually view the premiums as a business expense, meaning they benefit from Corporation tax relief
Premiums are not viewed as liable for benefit-in-kind contributions