What is relevant life insurance?
Relevant Life Insurance is a tax efficient way for small business owners to set up life or critical illness insurance policies for yourself and also potentially your employees. The policy is owned by your company and paid by your company which can lead to some significant savings compared to funding a policy personally.
Save up to 50%
If you run your own business and pay your life insurance premiums through your personal bank account you are wasting money, this is because you are paying the premiums from income which has already been taxed. SAVE MONEY by setting up a relevant life insurance policy and pay the premiums through your business account instead.
HMRC Approved Scheme
Relevant Life Insurance policies are HMRC compliant. Premiums are paid through your business account and 100% can be written off as a business expense. This has the effect of decreasing your corporation tax liability. There is also no P11D benefit in kind tax to pay.
Policy In Trust
Relevant Life policies must be set up in trust. There are several advantages of putting your life insurance in trust. Benefit 1 - Policies in trust pay out quicker than policies not in trust as any payout falls outside the your estate. Benefit 2 - Policies in trust are shielded from any future inheritance tax liability. Benefit 3 - You can pick who benefits from your policy
Im amazed there is not more awareness about this type of insurance, my accountant didn't even know such policies existed which is a bit of a worry! she does now after me telling her! I had been paying my previous policy for years from my own personal bank account which is frustrating as I feel I have thrown away money I didn't need to. Really glad I saw Trade Shields advert on Facebook and looked into this, i'm now paying less per month than before and writing the cost off as a business expense. Mr F Lawrie. - Edinburgh
I was referred across to Jonathan at Trade Shield by my friend as he was impressed with the level of service offered (I was too). Having recently set up a new business after having my first child, buying some sort of life insurance had been on my mind for a while. Jonathan explained a relevant life policy would be ideally suited to me because my business could pay for this and essentially save me a fair bit of money. I would never have know this existed before speaking to Jonathan. Ms E Dowell - Newcastle
Trade Shield is owned and operated by Jonathan Convery. Jonathan has been in financial services as an Independent Financial Adviser and Director for 10 years. He is a specialist in financial protection and has serviced several thousand clients over his career. Jonathan is passionate about providing the best level of cover for his clients at the best price as well as giving impeccable customer service. He lives just outside Glasgow with his young family.
Below is an example of how much can be saved using a relative life insurance policy compared to a standard life insurance policy
Phone: 0141 391 5867
Address: 272 Bath Street, Glasgow, G2 4JR
Trade Shield is a trading style of Protect & Effect Ltd who are authorised and regulated by the Financial Conduct Authority, we can be found on the FCA register under number 587812
Registered in Scotland No SC431217. Data protection licence number Z3558865. Registered Office: 272 Bath Street, Glasgow, G2 4JR
Tel: 0141 391 5867