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CMME Contractor Life Insurance

Life Cover for Contractors

Relevant Life Cover is a tax-efficient life insurance policy, allowing companies to offer a ‘death-in-service’ benefit to its employees and directors. It’s set up by the company and pays out a tax-free, lump sum on the death (or diagnosis of a terminal illness) of the person insured. The proceeds go directly to the employee’s family or financial dependants.

Reasons to consider Relevant Life Cover*:

  • Counts as a tax-deductible business expense
  • Insurer Support services such as Private GP Services and Second Medical Opinion are often included
  • The premiums are paid monthly
  • Guaranteed premiums
  • Cover can be level or increasing
  • Life change milestone events can allow for the cover to flex without additional underwriting
  • Benefits usually free from inheritance tax
  • Maximum amount of cover available is £10 million
  • Policy can usually be transferred to another company or into personal name
  • Policy must be written in a discretionary trust to ensure payment to family / dependants

*Relevant life cover may not be suitable for everyone:

  • Joint cover is not possible
  • Critical Illness cover cannot be included
  • The person covered must be a UK resident and an employee of a UK business and cover must stop by age 75.
  • Relevant Life Cover is not available to sole traders or partnership companies

Find out more about protecting yourself and your loved ones today!

A short, free consultation with one of our expert advisers will ensure you get a tailored quote. Complete the form below or call us directly on 01489 555 080.









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