Relevant Life

There are a number of employee perks that a company can offer its workers, and of course the better the perks the greater the degree of loyalty that usually results. Keeping key members of staff happy can go a long way towards maintaining a productive, motivated workforce, so the benefits in the end won’t be just for the employee; the company itself can win as well.

Many large companies offer group life insurance policies for their staff members, but this isn’t usually feasible for small businesses, or for those who only wish to provide cover for certain individuals. The solution is to seek relevant life cover instead. Put simply, this is a way of providing a form of death-in-service insurance that doesn’t have the complications of the group life option, and it brings impressive tax benefits to the employer.

The level of cover for each individual employee can vary according to that person’s health, age and lifestyle, and of course the amount they are insured for can depend on the amount the employer wishes to spend on premiums. The perk for the employer is a reliable insurance policy that will pay out to their loved ones should they die, and their employers will pay the monthly or annual premium.

Finding the right insurance policy can be an onerous, time-consuming and often rather stressful process, but with specialist help it can be pleasingly simple. Here at Scott Fyffe Wealth Management, we can offer various options that fit in with your specific requirements, leaving you nothing more difficult than simply picking one of the policies. It’s reassuring to know that our specialists can do the legwork on your behalf while you focus on other aspects of your business.

We’ve helped a great many personal and business clients to invest in more ethical financial services and vehicles in recent years, and if you’re interested in doing something similar we’d be happy to help. Using your money to help the fight against pollution, deforestation, greenhouse gases, exploitation, corruption and the depletion of our fossil fuel resources is a laudable practice, and Scott Fyffe Wealth Management are determined to do what we can to assist clients who want their investments to mirror their personal principles.

As well as the advantages that come from offering employees a highly attractive perk, relevant life cover can also be extremely tax-efficient for the employer. In general, such policies are often provided for directors, high-earning individuals and those members of the team who are considered key to the whole operation. If your business isn’t currently offering this attractive benefit, perhaps the time has come to start doing so. As always, the team at Scott Fyffe Wealth Management can guide you through the process from start to finish.

To find out more about our relevant life cover and how it can improve the lives of your employees, have a chat with our friendly, knowledgeable team today. We can be reached via our Contact page or you can call us on 01382 721 191. In these increasingly important times, you need to be doing all you can to hang on to those employees that you value the most. We hope to hear from you soon.

*The Financial Conduct Authority do not regulate employee benefits.

Life Assurance plans typically have no cash in value at any time and cover will cease at the end of term. If premiums stop, then cover will lapse.

The present tax treatment of Relevant Life Plans may change in the future.