Pay your life insurance premiums as a business expense

Did you know you can save both corporation tax and income tax by paying for your life insurance as a business expense rather than from your taxed income? Find out if you qualify today and speak to one of our experts.

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Relevant Life Insurance

Do you currently claim your life insurance premiums as a company expense?

If not, you will be paying unnecessary corporation and income tax that you could save if you move over to a ‘Relevant Life Insurance’ policy?

A Relevant Life Insurance policy is a life insurance policy paid for by your limited company or employer and is becoming increasingly popular in the UK for business owners and entrepreneurs.

One of the reasons for this newfound popularity is the fact that the full cost of the premiums paid can be claimed as a cost to the business, providing 100% corporation tax relief and no benefit-in-kind charge either.

This creates an incredibly tax-efficient way of providing life insurance for your family while claiming the full cost of the policy as a business expense.

Life insurance is precisely that. It is a ‘term assurance policy’ on your life. In the event of your death or being diagnosed with a terminal illness, the policy pays out to your family or beneficiaries. For example, a £500,000 policy would pay the full £500,000 to your family if you died or became critically ill.

We recommend that the policy is written into a trust which makes it completely free of inheritance tax. You can find more about this in the sections below.

Got Questions?

We have answers…

Which insurers offer Relevant Life Insurance?

We have the advantage of comparing the entire insurance market to guarantee you the lowest premium. That means we compare policies by Aviva, Zurich, LV, Vitality and many others.

We use the latest industry software to compare the best cover at the best rates. We also have the ability to request preferential rates on cover due to the volume of business we write with them.

Lowest Premium Promise

As a broker, we can make adjustments to the policy that can lead cheaper premiums than are even available from the insurer directly, so it’s worth checking with us before you commit to a plan.

How do I know if Relevant Life Insurance is right for me?

We are not a lead generation company or simple comparison website; we are regulated, financial and insurance advisers. This means we are qualified to advise you on the right cover to suit your needs and explain which insurer best suits your requirements.

All of the advice we provide is regulated and governed by the Financial Conduct Authority (FCA). We have the appropriate public indemnity insurance to cover the advice we provide, so you are in regulated and safe hands.

We do not charge a fee for the service and are paid by the insurers directly. This does not increase the cost of your premiums from the standard terms offered by insurers. In 99% of cases, we can offer cheaper premiums that you can obtain directly.

Premium Promise

99% of the time we can match or beat any like for like quotation from any of our partner insurers that you may have obtained directly.

Advice you can trust

We are happy to talk through your needs and provide written, regulated, Finacial advice that will connect you to the best policy for you.

Optional Addons - Relevant Life Policy

When you take out your relevant life policy, you will start with a set level of cover. For example, £500,000. If you choose to have ‘increasing cover’ this amount will increase each year by a set amount, usually 3% or 5%. As you would expect, the premiums also increase and can sometimes increase by 4.5% to 7.5% retrospectively. (subject to policy and provider)

In most cases, you will have the chance to opt-in or out of increasing cover on an annual basis. Therefore you could increase cover one year, and leave it flat the year after.

Upon the start of your policy, you will have a fixed amount of cover. For example, £500,000. If you choose to add indexation cover to your relevant life policy, this amount will increase by an index such as the ‘retail price index (RPI), up to a maximum of usually 10%.

Your premiums would also increase, usually by 1.5 times the additional benefit. If the index used to add indexation to the policy remains the same, the cover will not increase, and neither will the premiums. If the index falls, the cover will remain the same and not decrease in value.

This is a simple add-on feature that keeps the premiums you pay at the same level for the full term of your relevant life plan. This increase can vary from insurer to insurer, so make sure you understand this before choosing this option.

This option allows the insurer to review your premiums at a set interval. This may mean that the cost of cover could increase while the benefit remains the same. The guess here is will premiums go up or down in the future. In theory, we see no reason for the insurer to reduce the premium. However, it can’t be ruled out.

Should you decide to transfer the policy from one company to another, this is possible. For example, you may start a new venture or need to change limited companies. The policy could simply be transferred from one company to the other without any loss of cover or recalculation of premiums. For more information on this contact a member of our team.

Hopefully, life is long, and lots of things might change while you are building your business. This may require an increase in relevant life cover as your business or maybe even family expand. In this event, the cover amount can be increased. The increase will be subject to some restrictions; however, it can be done.

Need Advice?

We offer full regulated advice and are regulated by the FCA.

Looking for more information?

Take a look at our blog posts on Relevant Life Insurance. You’ll find details of various policies and the do’s and don’ts of the Relevant Life Insurance.


“ Swapping my life insurance saved me money on my premium and made it more tax-efficient to pay. It was great to compare the policy against others and make sure I receive the best premium. Highly recommended”

Christine Walters

Our Advisers

We are not a call centre or a large team of brokers just looking to close deals. We are regulated insurance advisers that take the time to discuss the right kind of insurance for you and add a human touch to what is a very important decision.

“If you’re wondering if Relevant Life Insurance is the right policy for you, your family and your business feel free to give us a call. We will quite quickly understand if Relevant Life is the right policy for you”