Relevant Life Insurance

Relevant Life Insurance offers a unique way to protect both your business and your loved ones financially. Here’s how it benefits you:

For Your Business:

• Secures Business Continuity: If a key employee (like a partner or owner) passes away, the payout from the policy can help cover expenses and lost income, allowing the business to adapt and continue operating.
• Provides Funds for Succession Planning: The death benefit can be used to buy out a deceased partner’s share of the business, easing the transition for remaining partners and avoiding financial strain.
• Attracts and Retains Talent: Offering relevant life insurance coverage demonstrates your commitment to your employees’ well-being and financial security, boosting employee morale and loyalty.

Relevant life insurance is an alternative way to provide death-in-service benefits for employees. In the event of an employee’s death whilst the plan is in place, a lump sum will be paid out to their family. Terminal illness cover may also be included in the policy, in which case a pay-out could be made if the employee is diagnosed with a terminal illness and has a life expectancy of less than twelve months.