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Directors Life Insurance

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Directors Life Insurance

If you are a Company Director you could be unnecessarily paying too much for life insurance. You could save nearly 50% on your life insurance by taking out Directors Life Insurance with a Relevant Life Policy.

If you have life cover you will probably be paying it from your personal bank account, after you have paid company and personal taxes.

Large companies avoid this tax by giving their employees life cover through a registered group ‘death in service’ scheme.

However, your company can also set up life insurance for you and the other directors and even employees, by taking out cover through a ‘relevant life policy’.

Relevant life policies have tax benefits available to both employers and employees;

  • Potential tax relief on the premiums for the employer, subject to the local tax inspector agreeing to it
  • Not a benefit in kind for the employee
  • Not subject to national insurance for either employer or employee
  • Benefits are payable tax free to the director or employee’s dependents
  • Benefits do not count towards the lifetime allowance for pension purposes
  • Higher than the usual maximum of four times salary allowed in registered group life schemes

In order to set up a relevant life insurance policy for yourself or your employees, get in touch with us today and we will advise you on the most suitable policy for your needs and deal with all the paperwork and trust documents to set it up correctly for you.

No fee for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment, Home Insurance, and Private Medical Insurance. We will be paid by commission from the company.

A fee of £495.00 £995.00 payable on completion. We will also be paid by commission from the lender. A fee of £250.00 will be payable if you decide not to proceed after the lender has made an official offer.

The Mortgage Factory is a trading name of Mortgage Factory UK Ltd , which is an appointed representative of Intrinsic Mortgage Planning Limited and Intrinsic Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.gov.uk/register/, references 440718 and 440703). Your home may be repossessed if you do not keep up repayments on your mortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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