What Is Relevant Life Insurance: A Comprehensive Guide
Relevant life insurance is a type of life insurance that is specifically designed to provide financial protection for your business during unforeseen circumstances, such as an employee’s terminal illness, injuries or death. Unlike traditional life insurance policies, relevant life insurance policies offer several advantages to both the business and the employee who is insured.
To further understand what relevant life insurance is, we will discuss the benefits, who it’s relevant to and factors to consider when choosing this policy.
Benefits of Having Relevant Life Insurance
Tax Efficiency
Unlike other policies such as key man insurance, relevant life insurance is the only life-insured policy that is an allowable business expense and therefore provides businesses with tax relief.
Flexibility
When consulting with an insurance company, you can discuss and tailor your relevant life policy to meet your specific needs. Tailoring could include what level of coverage you want on the directors …