A relevant life plan is insurance for an employee or salaried director in case of death in service.  It’s a plan paid into by the employer, which is designed to pay a lump sum to the employee's family if the employee dies or is diagnosed with a terminal illness.   Directors wishing to provide their own individual ‘death in service’ benefits without taking out a scheme for all employees can gain significant tax advantages through Relevant Life Plans.  They also allow businesses with less than 10 employees, or businesses looking to provide life insurance for less than 10 employees, with the same tax advantages that larger companies benefit from.

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