Our Services

RELEVANT LIFE COVER

RELEVANT LIFE COVER

Relevant Life Cover is a tax efficient way for small businesses to provide stand-alone, single life, death in service cover. It is designed to provide a death in service benefit for employees of small companies and high earning individuals (including salaried directors).  And as it will need to be written in trust – it will then pay a tax-free lump sum to the beneficiaries or dependants if the person covered was to die or was diagnosed with a terminal illness whilst employed during the term of the plan.

Benefits for employees

Relevant Life Cover premiums don’t count towards an individual’s allowance for tax purposes, other advantages include:

  • Benefits are payable free of Income Tax
  • Benefits are usually free from Inheritance Tax (however, in specific circumstances there may be a periodic tax charge on the trust)
  • Any benefit paid as Relevant Life Cover would not count towards the employee’s lifetime allowance for pensions
  • The employee can increase the amount of cover without additional underwriting (within certain limits) with a Guaranteed Increase Option

Why a Relevant Life Policy?

Many clients we see already have personal life insurance that is being paid for personally from their own bank accounts. Since the introduction of relevant life policies these clients can often make significant savings by having their limited companies pay for their premiums instead. Normally when a limited company takes out a non registered non group life insurance for an employee or director the employee has P11D benefit in kind issues and they may as well have paid for the cover themselves. However the relevant life policy is set up under a special trust and gets around this issue by using pension legislation.

Relevant Life is suitable for anyone who is an employee of a Limited Company, even if you are the only employee!

Relevant Life Cover is a tax efficient way for small businesses to provide stand-alone, single life, death in service cover. It is designed to provide a death in service benefit for employees of small companies and high earning individuals (including salaried directors)

Our Services.

MORTGAGES

If you are looking to buy a home, then we can review your options.

INSURANCE

We can provide you with advice on all types of insurance.

EQUITY RELEASE

Clear, simple advice that is suitable for you & your circumstances.

Lauren JonesLauren Jones
08:56 03 May 23
We have used Lucie to help us with our mortgage on 3 properties now...and she is wonderful! We wouldn't ever want to... use anyone else and we would recommend to anyone.She is incredible knowledgeable and goes above and beyond to make sure were getting the best possible options.Thankyou again Lucie!xxread more
leo nepomucenoleo nepomuceno
10:26 02 May 23
Thank you is not enough to describe how grateful we are to Lucie Hart for helping us to get our mortgage in our first... home. You’ve been so nice and very helpful through the entire process. CFS is highly recommended.read more
Tomasz NikielTomasz Nikiel
19:31 15 Mar 23
Peter and Ian have helped arranging mortgages for me for many years. I cannot recommend their services enough. They are... always there to answer all questions as soon as possible, professional and friendly, ready to help in any situation no matter how complex. I always receive sound advice and best product possible. Arranging a mortgage with CFS is quick and stress free, they are absolutely brilliant!Thank you!read more
Katie TaylorKatie Taylor
20:30 01 Mar 23
I cannot recommend Central Financial Services enough. Peter and Ian have advised my husband and I on our finances for... over 8 years and they never let us down. Ian is very efficient and highly experienced too. Peter is professional and personable. I have previously recommended Central Financial Services to family, as well as friends, who have all had the exact same, seamless, efficient and excellent service and results.read more
js_loader

Contact Us

For quick, simple answers to your questions, speak to one of our friendly advisors.

Google Rating
5.0
Based on 61 reviews
js_loader