Tyas & Company
Chartered Accountants, Registered Auditors, Tax, Financial & Business Advisors

Relevant Life Plans

Relevant Life Plans – Strange name but a handy product

Let your company pay your life insurance

A relevant life policy is a tax-efficient death-in-service product for individuals within a company.

It is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the person covered dies or is diagnosed with a terminal illness whilst employed during the term. A Relevant Life Plan is paid for by the employer. 

Who is it aimed at? 

  • Employers looking to provide 'death in service'  benefits, but with too few employees to set up a group scheme.
  • Directors wishing to provide their own individual ‘death in service’ benefits without taking out a scheme on all employees.
  • High earning individuals, such as directors, where ‘death in service’ does not form part of their ‘lifetime allowance’ (£1.5 million 2012/13). 

Relevant Life Plans are not available where this is no employer/employee relationship. For example, sole traders, equity partners of a partnership or equity members of a Limited Liability Partnership. 

So why a handy product?

Relevant Life Plans are similar to most other types of life cover except they aim to provide a tax efficient benefit provided by an employer for an employee.

 Relevant life policies are not treated as a benefit in kind and they’re an allowable expense for the employer. Providers can settle their own level of cover, up to 20 time’s annual salary

A Relevant Life Plan is designed to be written in a discretionary trust at outset, with the employee’s family and dependants as beneficiaries.

Contact Tyas & Company on 01293 843900 for help and advice on this tax saving benefit 


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Stephen Tyas                             Stephen Ayres



Registered to carry on audit work in the UK by the 
Institute of Chartered Accountants in England and 
Wales and authorised and regulated by the 
Financial Conduct Authority for investment 

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Telephone: 01293 843900

Fax: 01293 614312

Email: office@tyas.com

5 East Park, Crawley, West Sussex, RH10 6AN



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