Relevant Life Insurance: The "Service Plan" Your Business Needs (But Way Cheaper!)

Imagine driving away in your brand new car, excited about all the adventures to come. But then you remember that pricey service plan the dealer talked you into. Ouch! Later, you see a sign for the exact same service at a fraction of the cost, directly from the manufacturer. Feels a bit like you've been taken for a ride, doesn't it? 😠

This is what it can be like for many company directors who buy life insurance personally. They often end up paying more than they need to because they're not aware of a more cost-effective option: Relevant Life Insurance.

How is this like Relevant Life?

• Your New Car: This represents the things you want to protect – your family, your home, your lifestyle. It's precious cargo that needs looking after.

• The Pricey Dealer Service Plan: This is traditional life insurance bought personally, after you've paid tax on your income. It does the job, but at a higher cost.

• The Manufacturer's Service: This is Relevant Life Insurance. It's paid for by your company and comes with valuable tax advantages, like going direct to the source.

Be smart, save money, get protected, win-win

Why Relevant Life Insurance is the Smarter Choice

• Tax-Efficient Power: Just like going straight to the manufacturer saves you money, Relevant Life Insurance cuts out the taxman and reduces your costs. The premiums are tax-deductible for your company, lowering your Corporation Tax bill.

• More Money for Your Loved Ones: The death benefit is paid tax-free to your family through a trust. This means they'll receive the full amount, not a penny less.

• No Benefit-in-Kind Charge: You and your employees won't face any extra tax burden because of the Relevant Life premiums paid by the company.

• Keeps Your Options Open: Relevant Life Insurance won't affect your employee benefit allowances, giving you more flexibility for your financial planning.

(Image prompt: A graphic comparing the cost of Relevant Life Insurance vs. personal life insurance, highlighting the tax savings.)

Relevant Life Insurance: A Cost Comparison

Let's get down to brass tacks. We all know life insurance is important, but how much does it actually cost? And is Relevant Life Insurance really worth it?

To give you a real-world example, I've run some quotes for a non-smoking 40-year-old. We're looking at the maximum cover they can get without needing a medical exam – because who has time for that? 😉

Both the personal life insurance and Relevant Life Insurance policies provide £500,000 of cover, payable until retirement age. And guess what? The monthly premiums are almost identical – let's call them £100 for now. (I'll update this with the exact figures once I have them.)

But here's where the magic happens... ✨

Take a look at this side-by-side comparison to see the real difference in costs

Relevant Life Quote for a 40 year old.pdf

Download PDF • 20KB

As you can see, even though the premiums are similar, the true cost of Relevant Life Insurance is significantly lower. That's because the premiums are paid by your company and are tax-deductible, reducing your Corporation Tax bill. Plus, the payout to your loved ones is completely tax-free.

Why wait? You could have this valuable cover in place today, without any medical hurdles.

Why You Need to Discuss Relevant Life Insurance with a Financial Advisor

Unlike a car, the things you want to protect – your family, your home, your future – are unique. There's no "one-size-fits-all" solution when it comes to life insurance.

That's where I come in. I can help you navigate the market, compare different Relevant Life policies, and find the perfect fit for your needs and budget.

Ready to Get the Best "Service Plan" for Your Needs?

Don't get stuck with an expensive life insurance policy that's costing you more than it should. Contact me today for a free consultation, and let's explore how Relevant Life Insurance can benefit you and your company.

Get Advice that Clicks