03 Jun Relevant Life Insurance
Posted at 02:45h in Insurance
It is an efficient life insurance policy! Allowing companies to offer a death-in-service benefit to its employees. It is set up by the company and pays out a tax-free lump sum on death (or diagnosis of terminal illness) of the person insured.
Calling all small companies, this one is for you! You should in particular be thinking of this if you a are sole director run company. The premiums are viewed as tax deductible for the employer and not seen as a benefit in kind for the employee. This means that the employee does not have to pay the premiums from there already taxed income. Win, win!
If you are looking for tax relief this one is for you…