A Relevant Life Plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It’s designed to pay a lump sum if the person covered dies or is diagnosed with a terminal illness, whilst employed during the term. A Relevant Life Plan is paid for by the employer. Employers looking to provide ‘death in service’ benefits, but with too few employees to set up a group scheme.
Business loan protection provides a lump sum for businesses to cover their loans should an owner or key person involved in the repayment falls critically ill or passes away. Should this unfortunate event happen, the lump sum will ensure the business is prepared as some loans may have personal guarantees and must be repaid in the event of a death. Don’t put your business at risk and get a free quote today.
When a key person in a business dies it can have a devastating financial effect. You can help safeguard your business against the death, terminal or critical illness of a key person with key person protection. Key Person Protection is a business insuring itself against the financial loss it would suffer if a key person in their business died or were diagnosed with a specified critical illness if chosen, during the length of the policy.