What is Relevant Life Cover?
Protection planning is arguably the most important yet under-advised aspect of financial planning.
We have met many directors and high earners who take calculated risks whilst simultaneously mitigating that risk by ‘hedging their bets’ with excellent outcomes for themselves and their families. Those same directors and high earners have not had the same opportunity to hedge their bets on the one most important keystone to their success: themselves.
Today we shall be giving that opportunity through the upside of a tax-efficient form of life cover: Relevant Life
What is Relevant Life Cover?
Ever worked for a large corporation and been told you automatically receive ‘death in service benefit’? Normally this is a multiple of your salary. This is normally a group life policy. Relevant life works exactly the same as this with attributes near exactly that of a regular life policy: it is taken out for a fixed term with a monthly premium, it provides a lump sum if you die or suffer a terminal illness within the term of the policy and it is underwritten based on your personal circumstances.
The difference to standard life cover you ask? Premiums are a tax deductible expense for the company. Relevant Life premiums are paid by the company, and therefore count as a business expense.
Who is it for? If you are the Director of a company or high earning employee and have need for life cover or even if you have life cover yet pay for this from your salary then Relevant life might be just the solution for you.
To learn more please do feel free to give me a call on 01342 826 741 or email: james@sentryadvice.co.uk
James Carson-Lee
Partner
The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Sentry Advice Limited. All comments are made in good faith, and neither Sentry Advice Limited nor the author will accept liability for them. No advice is given in any posting. Please contact your adviser for more information or advice.
Mortgages to Purchase a Property
Mortgages to purchase a property a fee of £495 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Remortgages
For processing a remortgage a fee of £295 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Rate Switch / Product Transfer
For processing a product transfer/rate switch where you are remaining with your current lender a fee of £145 is payable on application.
Adverse Credit
For applications where there is a history of adverse credit then a total fee of £495 will be charged, of which £245 is payable at the point a personal recommendation is made, whether you decide to proceed or not. The remaining £250 is payable if/when an application is made and is refundable if we are unable to obtain a mortgage offer.
Equity Release Mortgages
A total fee of £990 will be charged, of which £495 is payable at the point an application is made with a provider. The remaining £495 is payable if/when the application completes.
We can accept payment via bank transfer, credit/debit card via PayPal.
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