Tax Efficient Life Insurance Guides

No one likes thinking about life insurance. Even worse, having to pay for it, especially as the cover policies available to date haven’t been expressly relevant to small businesses.

The tide has changed, though. Relevant Life has developed a product specifically for limited company contractors and small business owners. The difference? They’ve made life cover affordable, tax-efficient and appropriate!

Like Group Life Cover, but for small business owners

If you’ve ever worked at a large corporation, you’ll have no doubt been informed of your participation in their group life cover policy. Very often, you’ve not had to think about it other than to validate the beneficiary every three years or so.

The problem for freelancers is that group life is neither available nor affordable. For the providers of such cover, one man bands aren’t worth their time, either.

So in effect, contractors to date have been both paying tax on their income and also having to pay for personal life insurance after the tax man had taken his cut on top. That’s (thankfully) changed.

A Relevant Life cover policy allows limited company contractors to pay premiums through the company before tax. As it’s possible to claim as a business expense, it also means the cover is in no way designated a benefit-in-kind.

To find out more about how you can make your life insurance a tool to enhance tax efficiency and protect your nearest and dearest, please feel free to read/download our guides.

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