
Relevant Life
How much cover can you have?
Like a traditional death in service policy, the sum assured with a relevant life policy is also based on a multiple of remuneration. For a company director the definition of remuneration is based on salary plus dividends plus bonuses etc. The multiples vary from provider to provider and depend on the age of the director being insured. These range from 10 times remuneration to 25 times remuneration.
Typical relevant life examples
The majority of clients that seem to take out relevant life insurance tend to be IT contractors that contract through their own limited companies. Typically their spouse will also be a director and therefore cover is arranged for both parties in line with their insurance needs and remuneration multiples. Of course many other types of company directors can benefit such as tradesmen, business consultants, doctors or any one working through their own limited company. Other clients may include bigger businesses looking to take out three or four death in service policies for a few of their employees.
Speak to Health Insure Wales to discuss how your business could benefit from a relevant life policy and make sure your business doesn’t fall down the protection gap.
For free advice, further information or to arrange a meeting to discuss Private Medical Insurance, please:
Some of the Insurance Companies we use
