Relevant life insurance is an insurance policy that a business can take out to provide life insurance for an individual employee. It’s an alternative way for employers to provide death-in-service benefits for their employees outside of a registered group life scheme.
Relevant life insurance is applied for and paid for by the business. It is written into trust so it pays out a lump sum to the employee or their beneficiaries if they die or are diagnosed with a terminal illness while employed during the policy term.
Relevant Life Insurance cannot be purchased direct from AIG. We recommend you speak to a financial adviser to find out how Relevant Life Insurance is suitable for your company.
If you don’t already have an Independent Financial Adviser, you can find one at www.unbiased.co.uk
If you would like to learn more, you can download any of our documents: